Latin America is drawing a lot of new business these days.
Privalia, an online sales club, plans to funnel as much as $95 million into new markets in Latin America, Venture Beat reported.
Privalia already operates in Italy, Mexico, Brazil and Spain but may expand to Argentina to Colombia with their increased funds.
Hilton Worldwide already has its eye on the region, too, reports Hotel News Now.
They're developing seven more hotels, carrying 1,250 rooms, in Argentina, Brazil, Colombia, Chile and Peru. The company hopes to create 150 hotels in five years.
Ted Middleton, Hilton Worldwide's senior vice president of hotel development and finance for the region, said the expanding South American middle class and continued travel between the countries piqued the company's interest.
“There are millions of Brazilians moving from one class to another,” Middleton said. “When you think about 20 million people, that’s a huge market.”
In the midst of this economic boom for the region, Mexico is winning in the investment realm, Bloomberg reported today.
Mexico's beating the U.S. and Brazil for the first time since 2002 in stocks, bonds and currency, Bloomberg reported.
Experts cite the U.S.-Mexico NAFTA partnership as one reason. Read more here.
Sources: Bloomberg, Hotel News Now, Venture Beat
Photo: Caribe Hilton Resort Hotel, http://www.canellasrealestate.com