Editing Montevideo (section)

== Economy ==
''[[Economy of Uruguay|Main Article: Economy of Uruguay]]''

As the capital of Uruguay, Montevideo is the economic and political center of the country. Most of the largest and wealthiest businesses in Uruguay have their headquarters in the city. Since the 1990s the city has undergone rapid economic development and modernization, including two of Uruguay's most important buildings—the [[World Trade Center Montevideo]] (1998),<ref>{{Cite web |title=Montevideo |url=http://skyscraperpage.com/cities/?cityID=1040 |access-date=19 November 2010 |publisher=Skyscraper Page |archive-date=9 February 2011 |archive-url=https://web.archive.org/web/20110209201134/http://skyscraperpage.com/cities/?cityID=1040 |url-status=live }}</ref> and [[Telecommunications Tower (Montevideo)|Telecommunications Tower]] (2000), the headquarters of Uruguay's government-owned telecommunications company [[ANTEL]], increasing the city's integration into the global marketplace.<ref>{{Cite web |title=Complejo Torre |url=http://www.antel.com.uy/ANTEL/Institucional/complejo-torre/ |url-status=dead |archive-url=https://web.archive.org/web/20101127051245/http://www.antel.com.uy/ANTEL/Institucional/complejo-torre |archive-date=27 November 2010 |access-date=20 November 2010 |publisher=ANTEL}}</ref>

The [[Port of Montevideo]], in the northern part of Ciudad Vieja, is one of the major ports of South America and plays a very important role in the city's economy.<ref>{{Cite web |title=Puertos de Montevideo |url=http://www.worldportsource.com/ports/URY_Puerto_de_Montevideo_112.php |access-date=20 November 2010 |publisher=World Port Source |archive-date=16 July 2010 |archive-url=https://web.archive.org/web/20100716122247/http://www.worldportsource.com/ports/URY_Puerto_de_Montevideo_112.php |url-status=live }}</ref><ref>{{Cite web |title=Puertos Comerciales del Uruguay – Montevideo |url=http://www.anp.com.uy/montevideo/default.asp |url-status=dead |archive-url=https://web.archive.org/web/20101221033000/http://www.anp.com.uy/montevideo/default.asp |archive-date=21 December 2010 |access-date=20 November 2010 |publisher=Administracion Nacional de Puertos}}</ref> The port has been growing rapidly and consistently at an average annual rate of 14 percent due to an increase in foreign trade. The city has received a US$20&nbsp;million loan from the [[Inter-American Development Bank]] to modernize the port, increase its size and efficiency, and enable lower maritime and river transportation costs.<ref name="iadb">{{Cite web |title=Uruguay grts IDB financing to modernize the port of Montevideo |url=http://www.iadb.org/news-releases/2009-12/english/uruguay-gets-idb-financing-to-modernize-port-of-montevideo-6045.html |url-status=dead |archive-url=https://archive.today/20130112215445/http://www.iadb.org/news-releases/2009-12/english/uruguay-gets-idb-financing-to-modernize-port-of-montevideo-6045.html |archive-date=12 January 2013 |access-date=19 November 2010 |publisher=[[Inter-American Development Bank]]}}</ref>

The most important state-owned companies headquartered in Montevideo are: [[State Railways Administration of Uruguay|AFE]] (railways),<ref>{{Cite web |title=AFE |url=http://www.afe.com.uy// |url-status=dead |archive-url=https://web.archive.org/web/20110501121433/http://www.afe.com.uy// |archive-date=1 May 2011 |access-date=24 November 2010 |publisher=AFE}}</ref> [[ANCAP (Uruguay)|ANCAP]] (Energy),<ref>{{Cite web |title=ANCAP |url=http://www.ancap.com.uy/ |url-status=dead |archive-url=https://web.archive.org/web/20190904215142/https://www.ancap.com.uy/ |archive-date=4 September 2019 |access-date=20 November 2010 |publisher=ANCAP}}</ref> Administracion Nacional de Puertos (Ports), [[ANTEL]] (telecommunications),<ref>{{Cite web |title=ANTEL, la empresa de comunicación de los uruguayos |trans-title=ANTEL, the communications company of Uruguayans |url=http://www.antel.com.uy/antel/ |url-status=dead |archive-url=https://archive.today/20120629045809/http://www.antel.com.uy/antel/ |archive-date=29 June 2012 |access-date=20 November 2010 |publisher=ANTEL}}</ref> [[Banco Hipotecario del Uruguay|BHU]] (savings and loan),<ref>{{Cite web |title=Banco Hipotecario del Uruguay |url=http://www.bhu.com.uy/ |access-date=20 November 2010 |publisher=BHU |archive-date=19 November 2010 |archive-url=https://web.archive.org/web/20101119181149/http://www.bhu.com.uy/ |url-status=live }}</ref> [[Banco de la República Oriental del Uruguay|BROU]] (bank),<ref>{{Cite web |title=BROU – Home |url=http://www.brou.com.uy/web/guest/home |access-date=20 November 2010 |publisher=BROU |archive-date=19 November 2010 |archive-url=https://web.archive.org/web/20101119052942/http://brou.com.uy/web/guest/home |url-status=dead }}</ref> BSE (insurance),<ref>{{Cite web |title=Banco de Seguros del Estado |url=http://www.bse.com.uy/inicio/ |access-date=20 November 2010 |publisher=BSE |archive-date=4 November 2014 |archive-url=https://web.archive.org/web/20141104094644/http://www.bse.com.uy/Inicio |url-status=dead }}</ref> OSE (water & sewage),<ref>{{Cite web |title=OSE – Obras Sanitarias del Estado |url=http://www.ose.com.uy/ |access-date=20 November 2010 |publisher=OSE |archive-date=19 November 2010 |archive-url=https://web.archive.org/web/20101119052944/http://www.ose.com.uy/ |url-status=live }}</ref> [[UTE]] (electricity).<ref>{{Cite web |title=UTE : La energía de todos |url=http://www.ute.com.uy/index.html |url-status=dead |archive-url=https://web.archive.org/web/20101127044110/http://www.ute.com.uy/index.html |archive-date=27 November 2010 |access-date=20 November 2010 |publisher=UTE}}</ref> These companies operate under public law, using a legal entity defined in the Uruguayan Constitution called ''Ente Autonomo'' ("autonomous entity"). The government also owns part of other companies operating under private law, such as those owned wholly or partially by the CND (National Development Corporation).

Banking has traditionally been one of the strongest service export sectors in Uruguay: the country was once dubbed "the Switzerland of America",<ref>{{Cite web |date=9 October 2007 |title=Uruguay is Worth a Visit |url=http://www.leeabbamonte.com/south-america/uruguay-is-worth-a-visit.html |access-date=20 November 2010 |publisher=BootsnAll Travel Network |archive-date=14 November 2010 |archive-url=https://web.archive.org/web/20101114225918/http://www.leeabbamonte.com/south-america/uruguay-is-worth-a-visit.html |url-status=live }}</ref> mainly for its banking sector and stability, although that stability has been threatened in the 21st century by the recent global economic climate.<ref>{{Cite web |title=Crisis spreads to the 'Switzerland of America'! |url=http://www.revolutionarycommunist.org/index.php/latin-america/653-crisis-spreads-to-the-switzerland-of-america--frfi-169-oct--nov-2002.html |access-date=20 November 2010 |publisher=Revolutionary Communist Group |archive-date=26 April 2011 |archive-url=https://web.archive.org/web/20110426042219/http://www.revolutionarycommunist.org/index.php/latin-america/653-crisis-spreads-to-the-switzerland-of-america--frfi-169-oct--nov-2002.html |url-status=live }}</ref> The largest bank in Uruguay is Banco Republica (BROU), based in Montevideo.<ref>{{Cite web |title=BROU sitemap |url=http://www.bancorepublica.com.uy/web/guest/institucional/sitemap |access-date=20 November 2010 |publisher=BROU |archive-date=27 November 2010 |archive-url=https://web.archive.org/web/20101127181059/http://bancorepublica.com.uy/web/guest/institucional/sitemap |url-status=dead }}</ref> 9 private banks, most of them branches of international banks, operate in the country ([[Banco Santander]], [[Banco Bilbao Vizcaya Argentaria|BBVA]], [[ABN AMRO]], [[Citibank]], among others). There are also a myriad of brokers and financial-services bureaus, among them Ficus Capital, Galfin Sociedad de Bolsa, Europa Sociedad de Bolsa, Darío Cukier, GBU, Hordeñana & Asociados Sociedad de Bolsa, etc.

===Tourism===
[[File:Montevideo Twilight (249949860).jpg|thumb|226x226px|Montevideo's beach on the River Plate.]]
[[File:Hotel Casino Carrasco (141187153).jpeg|left|thumb|[[Hotel Carrasco|Hotel Casino Carrasco]]]]

Tourism accounts for much of Uruguay's economy. Tourism in Montevideo is centered in the Ciudad Vieja area, which includes the city's oldest buildings, several museums, art galleries, and nightclubs, with [[Peatonal Sarandí|Sarandí Street]] and the Mercado del Puerto being the most frequented venues of the old city.<ref>{{Cite web |title=La nueva Ciudad Vieja |url=http://www.montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/la-nueva-ciudad-vieja |url-status=dead |archive-url=https://web.archive.org/web/20110426044401/http://www.montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/la-nueva-ciudad-vieja |archive-date=26 April 2011 |access-date=26 November 2010 |publisher=Intendencia de Montevideo}}</ref> On the edge of Ciudad Vieja, [[Plaza Independencia]] is surrounded by many sights, including the [[Solís Theatre]] and the [[Palacio Salvo]]; the plaza also constitutes one end of [[18 de Julio Avenue]], the city's most important tourist destination outside of Ciudad Vieja. Apart from being a shopping street, the avenue is noted for its [[Art Deco]] buildings,<ref>{{Cite web |title=Art déco |url=http://www.montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/art-deco |url-status=dead |archive-url=https://web.archive.org/web/20111019063207/http://montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/art-deco |archive-date=19 October 2011 |access-date=26 November 2010 |publisher=Intendencia de Montevideo}}</ref> three important public squares, the Gaucho Museum, the [[Palacio Municipal (Montevideo)|Palacio Municipal]] and many other sights. The avenue leads to the [[Obelisk of Montevideo]]; beyond that is [[Parque Batlle]], which along with the [[Parque Prado]] is another important tourist destination.<ref>{{Cite web |title=El Prado |url=http://www.montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/el-prado |url-status=dead |archive-url=https://web.archive.org/web/20140910200143/http://www.montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/el-prado |archive-date=10 September 2014 |access-date=26 November 2010 |publisher=Intendencia de Montevideo}}</ref> Along the coast, the [[Fortaleza del Cerro]], the [[La Rambla, Montevideo|''Rambla'']] (the coastal avenue), {{convert|13|km|sp=us}} of sandy beaches,<ref>{{Cite web |title=Costa |url=http://www.montevideo.gub.uy/ciudad/paseos/costa |url-status=dead |archive-url=https://web.archive.org/web/20101025072929/http://www.montevideo.gub.uy/ciudad/paseos/costa |archive-date=25 October 2010 |access-date=26 November 2010 |publisher=Intendencia de Montevideo}}</ref> and [[Punta Gorda, Montevideo|Punta Gorda]] attract many tourists, as do the [[Barrio Sur, Montevideo|Barrio Sur]] and [[Palermo, Montevideo|Palermo]] ''barrios''.<ref>{{Cite web |title=Barrios Sur y Palermo |url=http://www.montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/barrios-sur-y-palermo |url-status=dead |archive-url=https://web.archive.org/web/20110727161551/http://www.montevideo.gub.uy/ciudad/paseos/circuitos-turisticos/barrios-sur-y-palermo |archive-date=27 July 2011 |access-date=26 November 2010 |publisher=Intendencia de Montevideo}}</ref>
[[File:Avenida 18 de Julio Montevideo, Uruguay 2021.jpg|thumb|[[18 de Julio Avenue]]|225x225px]]
The [[Ministry of Tourism (Uruguay)|Ministry of Tourism]] offers a two-and-a-half-hour city tour<ref>{{Cite web |title=Montevideo City Tour |url=http://www.turismo.gub.uy/circ-montevideo/city-tour-montevideo |url-status=dead |archive-url=https://web.archive.org/web/20101025074953/http://www.turismo.gub.uy/circ-montevideo/city-tour-montevideo |archive-date=25 October 2010 |access-date=20 November 2010 |publisher=Ministry of Tourism and Sports of Uruguay}}</ref> and the Montevideo Tourist Guide Association offers guided tours in English, Italian, Portuguese and German.<ref>{{Cite web |title=Datos útiles / Tours |url=http://www.montevideo.gub.uy/ciudad/datos-utiles/tours |url-status=dead |archive-url=https://web.archive.org/web/20101029144630/http://www.montevideo.gub.uy/ciudad/datos-utiles/tours |archive-date=29 October 2010 |access-date=20 November 2010 |publisher=Intendencia de Montevideo}}</ref> Apart from these, many private companies offer organized city tours.

Most tourists to the city come from Argentina, Brazil and Europe, with the number of visitors from elsewhere in Latin America and from the United States growing every year, thanks to an increasing number of international airline arrivals at [[Carrasco International Airport]] as well as cruises and ferries that arrive into the port of Montevideo.

=== Retail ===
Montevideo is the heartland of retailing in Uruguay. The city has become the principal center of business and real estate, including many expensive buildings and modern towers for residences and offices, surrounded by extensive green spaces. In 1985, the first shopping center in Rio de la Plata, [[Montevideo Shopping]] was built.<ref>{{Cite book |last=Remo Pedreschi |url=https://books.google.com/books?id=jK4QyY4vIHgC&q=Montevideo+Shopping++1985&pg=PA106 |title=The engineer's contribution to contemporary architecture |publisher=Thomas Telford |year=2000 |isbn=0-7277-2772-9 |pages=106–112 |access-date=22 October 2020 |archive-date=5 October 2023 |archive-url=https://web.archive.org/web/20231005141509/https://books.google.com/books?id=jK4QyY4vIHgC&q=Montevideo+Shopping++1985&pg=PA106#v=snippet&q=Montevideo%20Shopping%20%201985&f=false |url-status=live }}</ref> In 1994, with the building of three more shopping complexes such as the [[Tres Cruces bus station|Shopping Tres Cruces]], [[Portones Shopping]], and [[Punta Carretas Shopping]], the business map of the city changed dramatically. The creation of shopping complexes brought a major change in the habits of the people of Montevideo. Global firms such as [[McDonald's]] and [[Burger King]] etc. are firmly established in Montevideo. In 2013 [[Nuevocentro Shopping]], a shopping mall located in the [[Jacinto Vera, Montevideo|Jacinto Vera]] neighborhood, was inaugurated.<ref>{{Cite web |date=24 October 2013 |title=Abrió sus puertas Nuevocentro shopping, el compacto gigante más moderno de Montevideo |url=https://www.lr21.com.uy/economia/1137867-abrio-sus-puertas-nuevocentro-shopping-el-compacto-gigante-mas-moderno-de-montevideo |access-date=30 July 2020 |website=LARED21 |language=es |archive-date=24 September 2020 |archive-url=https://web.archive.org/web/20200924102534/https://www.lr21.com.uy/economia/1137867-abrio-sus-puertas-nuevocentro-shopping-el-compacto-gigante-mas-moderno-de-montevideo |url-status=live }}</ref>
[[File:Portones Shopping Estacionamiento.png|thumb|224x224px|Portones shopping center.]]
Apart from the big shopping complexes, the main retailing venues of the city are: most of 18 de Julio Avenue in the [[Centro, Montevideo|Centro]] and [[Cordón]] ''barrios'', a length of Agraciada Avenue in the Paso de Molino area of [[Belvedere, Montevideo|Belvedere]], a length of Arenal Grande St. and the

=== Media ===
Out of the 100 radio stations found in Uruguay, 40 of them are in Montevideo. The city has a vibrant artistic and literary community. The press enjoyed full freedom until the advent of the [[Civic-military dictatorship of Uruguay|Civic-military dictatorship (1973–1985)]]; this freedom returned on 1 March 1985, as part of the restoration of democracy.

Some of the important newspapers published in the city are: ''[[Brecha (newspaper)|Brecha]]'', ''[[La República (Uruguay)|La República]]'', ''[[El Observador (Uruguay)|El Observador]]'',<ref>{{Cite web |date=29 April 2011 |title=El Observador |url=http://www.observa.com.uy/ |access-date=16 September 2011 |publisher=Observa.com.uy |archive-date=26 April 2011 |archive-url=https://web.archive.org/web/20110426015436/http://www.observa.com.uy/ |url-status=live }}</ref> ''[[El País (Uruguay)|El País]]'', ''Gaceta Comercial'' and ''La Diaria''.<ref name="Crowther">{{Cite book |last1=Geoff Crowther |url=https://books.google.com/books?id=9L-lrQcQeMQC&q=Media |title=South America on a shoestring |last2=Rob Rachowiecki |last3=Krzysztof Dydyński |publisher=Lonely Planet Publications |year=1990 |isbn=0-86442-055-2 |pages=746–747 |author-link=Geoff Crowther |access-date=17 November 2010 |archive-date=5 October 2023 |archive-url=https://web.archive.org/web/20231005141511/https://books.google.com/books?id=9L-lrQcQeMQC&q=Media |url-status=live }}</ref> ''[[El Día (Uruguay)|El Día]]'' was the most prestigious paper in Uruguay, founded in 1886 by José Batlle, who would later go on to become President of Uruguay. The paper ceased production in the early 1990s.<ref>[[Encyclopædia Britannica]]</ref> All television stations have their headquarters in Montevideo, for example: [[Channel 10 (Uruguay)|Saeta Channel 10]], [[Teledoce]], [[Channel 4, Uruguay|Channel 4]] and [[Televisión Nacional Uruguay|National Television (Channel 5)]]