Wealth Managers Flock to South American Beach Haven for the Rich

South America’s summer playground for the rich is becoming a new magnet for wealth management, as Uruguay burnishes its reputation as an investor-friendly haven in a tumultuous region.

Punta del Este, a mix of Hamptons exclusivity and Miami Beach high rises, has long hosted the continent’s wealthy seeking sun and waves in the safe and welcoming nation. But since the pandemic, it’s seen an influx of rich foreigners — including Americans and Europeans — buying homes in the area thanks to generous tax breaks and as an insurance policy against political polarization in the Northern Hemisphere.