Uruguay has the highest share of urban residents in Latin America, with 95.9% of its population living in urban areas in 2024, according to the United Nations Population Division's World Urbanisation Prospects .

The UN estimates that nearly all Uruguayans now live in cities and towns, reflecting one of the world's most urbanised societies. The country's population is heavily concentrated around Montevideo, which, together with its surrounding metropolitan area, accounts for more than half of the national population.

Puerto Rico ranks second with 93.7%, followed by Argentina at 92.6%. Venezuela places fourth with 88.5%, narrowly ahead of Chile at 88.1% and Brazil at 88.0%.

Among Latin America's largest economies, urban populations now dominate national demographics.

Brazil, the region's most populous country, has almost nine in ten people living in urban areas. São Paulo, Rio de Janeiro, Brasília, Belo Horizonte and Salvador remain among the country's largest metropolitan centres.

Mexico ranks tenth with 81.9%, driven by continued growth around Mexico City, Guadalajara and Monterrey. Colombia follows closely with 82.7%, where Bogotá, Medellín, Cali and Barranquilla account for a significant share of the country's population.

The Dominican Republic records 85.0%, while Costa Rica reaches 83.2%, with urban growth concentrated around Santo Domingo and the Greater Metropolitan Area of San José, respectively.

According to the United Nations, Latin America and the Caribbean is one of the world's most urbanised regions, with urbanisation accelerating rapidly throughout the second half of the 20th century as millions of people moved from rural areas to cities in search of employment, education and healthcare.

The UN projects that urbanisation will continue increasing across much of the region over the coming decades, although growth is expected to slow as many countries approach saturation levels where the overwhelming majority of their populations already live in urban areas.

The index, published by the Global Tax Expenditures Lab (GTEL), evaluates how governments disclose tax expenditures, including tax exemptions, deductions, credits and reduced tax rates. These measures represent government revenue forgone through the tax system and are widely used to support economic sectors, investment and social policy .

Indonesia climbed one place from the previous edition to lead the global rankings with 79.9 points, narrowly ahead of the Republic of Korea, which scored 78.3 after slipping from first place.

Australia recorded one of the greatest improvements, rising eight places to third with 76.3, while the Netherlands also climbed eight positions to fourth on 75.5. Canada completed the top five with 72.9, despite dropping two places.

Germany ranked sixth with 72.2, followed by the Russian Federation on 71.3. Benin emerged as Africa's highest-ranked country, placing eighth globally with 71.0, while France and Brazil rounded out the top ten with 68.9 and 68.8, respectively.

Unlike broader tax competitiveness rankings, the GTETI focuses exclusively on transparency. It assesses whether governments publish comprehensive information about tax expenditures, including their legal basis, estimated fiscal cost, policy objectives, beneficiaries and regular evaluations.

The index examines five key dimensions: institutional frameworks, the quality and scope of reporting, accessibility of information, oversight and accountability, and the use of evaluations to determine whether tax incentives achieve their intended goals.

According to the Global Tax Expenditures Lab, transparent reporting allows governments, legislators and the public to better understand the true cost of tax incentives and whether they deliver value for money.

Tax expenditures can amount to several percentage points of a country's gross domestic product and often rival direct government spending in size. Yet many governments still provide limited public information on these measures.

The GTETI argues that stronger reporting improves fiscal accountability, supports evidence-based policymaking and helps governments assess whether tax incentives remain justified over time.

Speaking at a daily press briefing in Beijing on Monday, Chinese Foreign Ministry spokesperson Lin Jian said restoring navigation through the strategic waterway was in the interests of all parties after Iran claimed it had closed the strait and the United States announced further strikes on Iranian targets.

"The Strait of Hormuz is a waterway used for international navigation, and restoring safe and free passage through the strait as soon as possible is in the interests of all parties. The issue of navigation through the strait should be properly addressed. China is willing to maintain communication with relevant countries and the international community on this matter," Lin said.

Iran's claim that it had closed the Strait of Hormuz was disputed by Washington, which maintained that the waterway remained open. The renewed fighting has placed additional pressure on a route that is vital for global energy supplies and commercial shipping.

During the same briefing, Lin rejected allegations from US Federal Maritime Commission chair Laura DiBella that China was using port state control inspections to target Panama after a dispute over port concessions near the Panama Canal.

He said Panama-flagged vessels had been involved in a disproportionate number of maritime incidents in Chinese waters.

"From January to July of this year, Panama-flagged vessels accounted for nearly 20 percent of the total number of foreign-flagged vessel calls at Chinese ports, while their share of vessel accidents and deaths or missing persons reached approximately 50 percent, respectively," Lin said.

Responding to DiBella's comments, Lin defended China's inspection regime.

"Port State control, as an important measure to ensure the safety of vessel navigation and the cleanliness of waters, serves as the primary means by which countries manage the safety of foreign-flagged vessels calling at their ports. China attaches great importance to waterborne traffic and personal safety and conducts port State control inspections on vessels calling at Chinese ports in accordance with laws and regulations, which is fully consistent with international conventions," he added.

Lin also confirmed that Chinese President Xi Jinping will attend the opening ceremony of the 2026 World Artificial Intelligence Conference and High-Level Meeting on Global AI Governance in Shanghai later this week.