Argentina News

Spending of foreign visitors drops 31 percent

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Spending of foreign visitors drops 31 percent
Wednesday November 13, 2013

The tourism sector in Argentina has a deficit of US$126,918,573 million for September. Argentine people spend more abroad and foreign tourists spend less in Argentina itself; actually, 31 % less compared to September last year!.

The significant increases of spending by Argentines abroad contrasted with this caution by tourists in Argentina whilst the total number of foreign visitors increased with 1.3 compared to last year.

Analysts have argued that surging prices and inflation may be putting visitors off. With foreigners spending 30 percent less than in the same month last year the government is worried. Out of the total 193,492 tourists arriving in Buenos Aires in September, 62,022 were from Brazil, that is, 11.1 percent less than in September 2012.

There was a 13.4 percent increase in visitors from the “Rest of America”. Tourists in Argentina stayed an average of 11 days and spent an average of US$71.2 per day, which is, as said 31 percent less in the monthly inter-annual comparison. For the third quarter, 28.9 percent of Argentines travelling abroad chose the “Rest of America” as their destination, followed by 19.2 percent who flew to the United States and Canada, and Brazil with 18.3 percent.

This whole panorama has pushed economic officials of the president to consider measures. One of the suggestions that soon could be implemented is a “tourist dollar exchange rate” that would give foreigners much more pesos than the official Exchange rate which is 5.9. The black market dollar, called ‘blue dollar’ in Argentina, gives them around 10 pesos per dollar.

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