Investopedia: Arcos Dorados - Rare Or Overcooked?

What happens when emerging markets start seeing better incomes and higher standards of living? In the earliest days, it means cell phones, televisions and motorbikes. Later, it can mean adding more protein to the diet. Still later, it often means spending on luxuries like dining out, and American quick-service restaurants often represent affordable luxury in many parts of the world.

To that end, Arcos Dorados (NYSE:ARCO) is not only a play on improving economic conditions in Latin America, but a way to play one of the faster-growing markets for the proven and globally-successful restaurant chain McDonald's (NYSE:MCD). While it's one of the very few direct investment plays available to American investors within this trend, it's not exactly the cheapest stock by many standards.

Read more here:
http://stocks.investopedia.com/stock-analysis/2011/Arcos-Dorados---Rare-Or-Overcooked-ARCO-MCD-YUM-AGRO-DPZ-PNRA-CMG1221.aspx