Devaluation in Argentina boosts shopping tourism from abroad

22-08-23

In the last week, 10% more packages were sold for visitors from neighbouring countries who want to travel to Argentina to take advantage of the exchange rate difference. The city of Buenos Aires is expecting the second best long weekend of the year.

Due to the devaluation that took the official dollar from 306 to 365.5 pesos - a figure that the Government of Argentina assured that it will be maintained until October -, the tourist industry expects an even greater increase in the arrival of foreigners, who will seek to take advantage of the exchange rate difference to vacation in the country and to go on shopping tours.  

Since Monday, operators who market their services directly in destinations in the region or in alliance with agencies in these markets sold 10% more trips compared to previous weeks. Most of them are visitors from neighbouring countries, such as Brazil, Chile and Uruguay.

Although demand is still incipient, the sector estimates that, as the days go by, the number of packages to Argentina's main tourist centres will increase. They are confident that the dollar will continue to rise in the coming weeks, so they predict that before the end of the year could double the influx recorded so far.

"Since Monday, the enquiries have been pouring in. There have been many searches, of which more than 70% have resulted in purchases. The most demanded is the city of Buenos Aires. Behind them are destinations that have consolidated in the last year in this segment, such as Bariloche, Ushuaia, Mendoza, Iguazú and Salta", mentioned a wholesale operator that sells its services in Brazil, and added that most of the clients are couples under 60 years old and families with two children.

According to the Buenos Aires Tourism Board, the city of Buenos Aires is preparing for "the second best long weekend of the year", after 25 May, when more than 114,000 tourists arrived in the national capital. With a broader agenda of cultural and gastronomic activities, it will receive almost 113,000 national and international visitors, who will leave an estimated economic impact of 9.299 million, with an average occupancy rate of 76 per cent.