MercadoLibre to spend $2.6 billion in Argentina, up from last year
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FILE PHOTO: An employee of e-commerce MercadoLibre works at the company's offices in Buenos Aires, Argentina September 6, 2024. REUTERS/Agustin Marcarian/File Photo
BUENOS AIRES (Reuters) -Latin American e-commerce company MercadoLibre plans to spend $2.6 billion in Argentina this year, the company said on Wednesday.
The funds - a 53% boost from the year before - will go toward logistics, marketing and technology, MercadoLibre said in a statement.
The online marketplace and financial technology firm is set to hire 2,000 new employees in 2025, bringing its local workforce to 14,000 workers.
MercadoLibre has seen a boost in consumer spending from Argentina as the economy recovers, an executive told media outlet La Nacion.
"From last June, we've seen month-on-month growth in ticket sizes of MercadoLibre's sales, which is a good thermometer of consumption," country manager Juan Martin de la Serna said.
On Tuesday, MercadoLibre's Andean head, Alan Meyer Frankfurt, said the company would boost spending in Colombia by 27% in 2025, to $470 million.
(Reporting by Kylie Madry and Walter Bianchi; Editing by Natalia Siniawski and Rod Nickel)
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