Going Global

(Business 2.0 Magazine) -- With the U.S. real estate market in the doldrums, look south - way south - to Uruguay. Uru-where? The tiny South American nation is wedged between Brazil and Argentina, whose sputtering currencies have been attracting globe-trotting bargain hunters in recent years. But it's getting harder to find a real deal in those countries, with all the competition from euro-flush investors and increasingly prosperous locals. That makes largely overlooked but delightfully cosmopolitan Uruguay the place to be.

Known as the Switzerland of South America, Uruguay played host to the jet-setting crowd in the '60s. These days the likes of Ralph Lauren and Naomi Campbell hit the beaches of Punta del Este. 

Source: By Michael V. Copeland, Business 2.0 Magazine senior writer