Rich in resources and growing consumer bases, South American countries are considered some of the best places to set up a business. With a high concentration of talent and an infectious entrepreneurial spirit, here are the top business travel destinations in the continent:

Buenos Aires, Argentina

According to The Economist, the capital of Argentina is the best city in Latin America to live - but what makes it a top business destination?

• Buenos Aires has a young, large and educated population, thanks to its abundance of distinguished universities

• The city is home to eight unicorns (to date) and considered a top startup destination

• Buenos Aires is recognized in particular for its tech opportunities

Rio de Janeiro, Brazil

Not just famous for its carnival celebrations and extravagant parties…

• Thanks to its large-scale events and numerous attractions, Rio is considered a thriving hub for business

• The city boasts the second-largest economy in Brazil and one of the most powerful markets in Latin America

• Excitingly, Rio de Janeiro has big plans to become Brazil’s cryptocurrency capital

Santiago, Chile

According to Statista, Santiago is the city with the largest number of startups in Chile

• The Startup Ecosystem of Santiago is ranked at number 67 globally (the city also sits at number one in Chile and three in South America)

• Top industries include food tech, marketing and sales, and education

• The city is home to the country's Stock Exchange, major banks, and much of the nation's industry

São Paulo, Brazil

Sao Paulo is an ideal location to consider for fintech, e-commerce and retail and transportation startups.

• São Paulo is considered Latin America’s largest tech hub and the tech capital of Brazil

• The city came fourth place in the list of the ten “Megacities of the Future” with the best strategies for attracting Foreign Direct Investment (FDI)

• By 2025, São Paulo is predicted to be the fifth or sixth wealthiest city in the world

Bogota, Colombia

Bogota is Colombia’s capital city and the largest city in Colombia.

• The city is recognized for having one of the best business environments in Latin America

• Bogotá is a target destination for startups in e-commerce and Internet advertising

• According to Startup Blink 2022, Bogotá has the most startups of all Colombian cities, showcasing the city’s entrepreneurial spirit

Lima, Peru

Peru has one of the fastest-growing economies in Latin America, so it makes sense to visit the capital!

• Lima is home to many different industries, including textiles, clothing and food, and a profitable stock market

• Of 86 startup companies identified in Peru as of April 2022, 83 were located in Lima and its metropolitan area

• The city offers a favorable legal framework for foreign investment and a notably friendly investment environment

Quito, Ecuador

Ecuador is famous for its tropical rainforests, the Galapagos Islands, and bananas - but what about business?

• Ecuador’s capital city Quito is recognized as a software development hub, as well as the banking and financial hub of the country

• The majority of transnational companies based in Ecuador have their headquarters in Quito

• The low cost of living is one of the many reasons why the city is considered a profitable business destination

La Paz, Bolivia

La Paz is the capital of Bolivia and is one of the most popular tourist destinations in the country.

• The city is considered the political and commercial hub of Bolivia

• One-third of Bolivia’s startups are located in La Paz, with a strong focus on tech

• La Paz is the main technological city of the country and home to one the largest software development companies in the country

Medellin, Colombia

Medellin recently ranked third in Time Out’s top 10 cities.

• Medellin is the economic center of the Antioquia region - and also the fashion capital of Colombia

• The city serves as the Latin American headquarters for many national and international companies

• Low living costs and high standard of living make Medellin an attractive place for those working in the finance sector

Guayaquil, Ecuador

Guayaquil, also known as “the Pearl of the Pacific”, is Ecuador’s most populated city.

• Guayaquil is home to Ecuador’s main port and is the country’s top manufacturing city

• The biggest business areas include medicinal substances and pharmaceuticals

• The city is considered the commercial heart of Ecuador, with a fresh entrepreneurial spirit

With so many promising destinations to choose from, selecting the right city for employee business trips may be a challenge! Wherever you choose, make sure employees are safe and comfortable with reliable employee accommodation.

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