Uruguay, Beyond the Metrics and Statistics

As the saying goes, it is a competitive world out there, and countries will do and say just about anything to attract investors. I remember a handout that a Portuguese consulate in the USA printed years ago, claiming that their workers were the fourth hardest working people in the world—a bit of a stretch, but statistics can be manipulated anyway you want. Sometimes the effects of pushing the envelope are disastrous. Korea's bailout by the International Monetary Fund in 1997-98 was in part a result of its president, Kim Young-sam, who was hell bent on boosting his country's per capital GDP . . . in part by cooking the books while allowing hard currency to flow out of the Korean Central Bank.

Countries will tout worker productivity, GDP, GNP, and FDI in order to obtain those coveted factories and the jobs that come with them. One country, however, is trying to attract investors by touting its quality of life, and suggesting that its land about the size of Washington state with the population of Berlin be considered just because well, it is a nice place. And that country is Uruguay.

I almost did not want to write about nation of 3.3 million, even after someone I know forwarded this clip to me, because of selfishness—Uruguay is a place that flies under the radar and naturally I want it to stay that way. But while this video at time sounds as retro as much of the country, much of it rings true. You can have a great distribution system featuring access to fresh food when your country is heavy on agriculture and products can go from farm to store in a day. The country has miles of coast that lie empty, and its people are educated, motivated, and talented.

The video is long, and at times it borders cliché. Most investors would not care that it is shaped similarly to a fictional “Utopia,” and while I found the people friendly, I do not remember that many people saying hello to me on the street. I will also stay out of the fight over whether tango is from Argentina or Uruguay.

If anything, the video is a bit understated and could do a better job touting the country. And Uruguayans should not compare themselves to Brazilians nor Argentinians. Nor should it say it's nothing “really special.” Because the truth is, Uruguay is a special place, has a history of progressivism, and is an easy place to conduct business. And it offers a quiet natural beauty on its shores and in the interior. If there is one nation where one can feel confident about outsourcing IT or other business processes, it is Uruguay.

After seeing many commercials and inserts with bombastics claims a country makes about its people and business climate, a dose of humility is refreshing. The comments on YouTube were interesting—many commentators were not happy about the comments an outsider had on their country. But overall the video is complimentary, and is spot on. If you have 13 minutes, take the time to learn about this serene corner of the world:

Special thanks to Diego Bension for passing this on!