Our hearts go out to those Chileans affected by the horrible 8.8 Richter Scale quake that hit the country over the weekend. For those in the center of the action, all the preparation in the world could only do so much.

Thankfully there was plenty of preparation, however, so the news has been quick to compare the relatively small death toll in Chile compared to what happened in Haiti. Most people have reacted by saying it was worse in Haiti because they are so poor. But Time magazine says those people have it backwards: some countries are just more committed to a government that has its act together, which is exactly why they aren’t poor.

“Chile is more developed because it’s doing things right. The same goes for Brazil, Uruguay, Costa Rica and a handful of other Latin American and Caribbean nations that have decided in the 21st century to stop running their societies like medieval fiefdoms. They’ve conceded that niceties like rule of law, accountability, education, entrepreneurial opportunity and administrative efficiency actually have merit. And they’ve stopped making worn-out excuses, like the threats of communism or U.S. imperialism, for not modernizing their political and economic systems.”

Many investors are missing this point, thinking these countries are just doing well because they have a lot of commodities to sell. In fact they are doing well because their citizens are getting wealthier each year and have more money to spend. That can only happen with a stable, transparent government in place. With that happening, growth is almost a sure thing. (As opposed to Venezuala and Bolivia, countries that have plenty of commodities but a corrupt and backward-looking government.) Argentina could go either way, but right now it’s not looking promising.

Read the full Time article here.

My September issue of International Living arrived in the mail a couple weeks ago and this is the one that has their annual ranking of the Top Retirement Havens in the world. As usual, Latin America dominates the rankings, with 4 of the top 5 and 7 of the top 10.

A list like this is always going to be a bit subjective, but they take into account 8 different factors when tallying up the scores, like special benefits, cost of living, infrastructure, and safety, for example.

At the top this year was Ecuador, combining bargain prices with an excellent climate and a good quality of life. Beaches, mountains, jungles, and the U.S. dollar as the currency—what’s not to like? See our Ecuador luxury travel section for more on this attractive country.

Next up was Mexico, where I probably spend more of my time than anywhere else. Besides it being close and easy to get to, the country has an excellent variety of real estate options, a decent health care system, good roads, and a reasonable cost of living outside a few gringo hotspots. See more in our Mexico luxury travel section.

Panama and Uruguay were the next two in line, edging out Italy at #5. See stories on both in our Latin America real estate section.

Other Latin American countries making the top-10 in this retirement index were Brazil (good beachfront prices), Argentina (still good deals on Buenos Aires apartments and Mendoza vineyards), and Costa Rica.

Belize, Chile, Nicaragua, Colombia, and Honduras were further down the list, but remember that there’s only one list that really matters when it’s time to buy: yours.

Francis Mallman is a well-known figure in both Argentina and Uruguay. He is a chef, the owner of several restaurants, and the person who gets most of the credit for making Uruguay’s Jose Ignacio beach area the hip and happening place for celebrities and international playboys (and girls). We’ve just posted a review of his small inn in a small town: Hotel el Garzon.

In Luxury Latin America, we try to go beyond the big splashy places, which can often be impersonal and uninspiring. Hotel El Garzon is a great example of a gem where you can expect great service, interesting furnishings that don’t come from a hotel catalog, and cuisine served with a flourish.With a winery nearby supplying el vino, you’ll surely drink something new and interesting as well. Check out the full review.