where in Eastern Europe, South America, what city ideal for new hostel?

for the New Decade, and new year... where in Eastern Europe, South America, what city (or cities) ideal for opening of new small hostel for a young entrepreneur with limited resources but willing to manage place personally? not by big hostel chain... what about laws or regulations on a foreign citizen owning a hostel business, or buying of real estate in the area or long-term leases?

if there are still affordable places in Western Europe, USA, Canada or other regions, please give suggestions & why? perhaps new tourism trends or improving economics? or other opportunities?