Top destination countries were Mexico and Brazil, and top source countries for the region were the US and Spain. According to fDi Markets, the sectors receiving the most growth were software, IT and business services.

While the number of projects has increased, the capital expenditure on these projects has sunk back to close to their 2007 levels after nearly doubling in 2008 and 2009. Capex reached $65.9bn in 2007, $129.9bn in 2008 and $68.4bn this year to date.

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Most recently the German systems provider Orga Systems established a delivery centre in Buenos Aires, Argentina that will create 200 jobs by next year.