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Foz do Iguaçu is characterized by its cultural diversity.  The citizens of the city are natives of over 80 nationalities. It is located in the south of Brazil, in a prime spot on the triple border between Brazil, Paraguay and Argentina. The basis of the city's economy is tourism, especially in trade and services. According to a research conducted by the Brazilian Tourism Institute (Embratur) and the Economic Research Institute Foundation (FIPE), in the period 2004-2011, Foz do Iguaçu was considered in the segment "Leisure" the 2nd most visited destination of Brazil by foreign tourists, behind Rio de Janeiro.