Uruguay

In terms of both land mass and population, Uruguay is comfortably the smallest nation in South America. Do not let statistics fool you, however; this is a country with a long and proud history of punching above its weight. This has been most apparent in football, where the Celeste natio
nal team have lifted two World Cups, two Olympic Games and 14 Copa America championships (more than any of its neighbours in South America), but also in terms of economic activity where it more than matches giant neighbours Brazil and Argentina.

Like its rival across the Rio de la Plata – Uruguay was formerly a province of Argentina, gaining independence in 1830 after a long struggle – the nation has long been associated with a strong agricultural sector, specifically in the raising of cattle for meat and leather products. In 2011, in what was a landmark event for the industry as well as the Uruguayan people, exports of beef surpassed those of Argentina, reaching US$1.4 million a year; a figure that almost doubles the amount registered in 2004. This growth has permitted a strong investment in local services and social programmes by President José Mujica, famous for his austere lifestyle and rejection of the trappings of office.

It is not all just beef, however. Impressive growth figures have been posted across the last 10 years, including during the global financial crisis, and software and IT services are just one example of new industries which have gained prominence in the 21st century. Tourism, as well, is a huge industry for the country, with the coastal city of Punta del Este recognised as the destination for jet-setters from South America and across the world.