(Reuters) – Latin American e-commerce giant MercadoLibre plans to invest $2.6 billion in Argentina this year, local newspaper La Nacion reported on Wednesday.
The funds – a 53% boost from the year before – will go toward logistics, marketing and technology, La Nacion reported.
The online marketplace and fintech firm is set to hire 2,000 new employees in 2025, La Nacion added, bringing its local workforce up to 14,000 workers.
MercadoLibre has seen consumer spending in Argentina rise in recent months as the economy there recovers, an executive told the outlet.
“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.
(Reporting by Kylie Madry; Editing by Natalia Siniawski)
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