Monday, November 26th 2012 - 04:46 UTC

Argentina heading for its first negative balance in tourism in ten years

For the first time since 2002 Argentina is forecasted to end the tourism year with a negative balance totalling 2.3 billion dollars compared to a positive one of 304 million dollars in 2011, according to consultants Ecolatina.

Argentines travelling overseas increased 16% and incoming tourists are down 3.5%

The strong Argentine Peso is one of the main causes for the tendency since the increase in domestic prices makes relatively cheaper the overseas tourism options over those locally, besides at the same time dissuading foreign visitors and stimulating Argentines to travel overseas, explains Ecotlatina the consulting firm linked to former Economy minister Roberto Lavagna.

According to the International Tourism public opinion poll, ETI, the number of foreign tourists arriving in Argentina dropped 3.5%, while in the same period the number of Argentines travelling overseas jumped 16%.

“The money exchange restrictions (imposed by the Cristina Fernandez administration to impede Argentines from holding and saving in dollars) also played an important role in reverting the Tourism and Travel balance”, adds the report.

In effect Ecolatina says that the so called ‘dollar-clamp’ has had a non wanted contrast for the government since “for Argentines wishing to travel overseas, the financing of tourism packages in Pesos and at the formal exchange rate (in a context of lack of investment alternatives) has become a mechanism to have access to the US dollar at the official rate.

“If the tendency persists in 2012, for the first time in ten years the balance of incoming and outgoing tourists will be negative”, says Ecolatina adding that “the reduction in the influx of tourists arriving in Argentina is contrary to what is happening worldwide since in 2011 international tourism again is expanding sustainedly”

The ‘dollar clamp’ has had the effect of creating a parallel market for the US currency which at the end of trading last week was in the range of 6.80 Pesos compared with 4.87 Pesos at the official exchange rate, thus granting Argentines travelling overseas a 40% benefit .

35 comments Feed

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1 Ayayay (#) Nov 26th, 2012 - 05:40 am Report abuse
Yeay for Nostrodamus II?
2 Frank (#) Nov 26th, 2012 - 07:09 am Report abuse
3 cruise liners don't go to the Falklands because of RG state sponsored thuggery.

2.3 billion US$ doesn't go to RGland because state sponsored thuggery, freelance thuggery, dog shit in the streets, etc etc.

And the winner is?
3 Xect (#) Nov 26th, 2012 - 08:03 am Report abuse
Where is Think when you need him?

And in the words of Think - Chuckle Chuckle!
4 Ayayay (#) Nov 26th, 2012 - 08:14 am Report abuse
And look what popped up hours later: #Amazing #NYC #JFK to #Buenos Aires
#Argentina $396 rt incl. tax March travel
(other months available)
5 CJvR (#) Nov 26th, 2012 - 09:45 am Report abuse
LOL! Who could have guessed? Everyone except the KFC regime!
6 Captain Poppy (#) Nov 26th, 2012 - 11:31 am Report abuse
Ayayay....396 rt to Buenos Aires.....where.......I pay more like 1500 from Boston
7 Idlehands (#) Nov 26th, 2012 - 11:46 am Report abuse
Another example of the governments blinkered approach to negative consequences.
8 Pirate Love (#) Nov 26th, 2012 - 12:44 pm Report abuse
Crustina and her thugs attack on the shipping company and this NEGATIVE tourism news!! very timely are they linked?

“Progressive isolation” the new look kirchner model! I will drink to that!

Happy Christmas, Argentina! but i doubt it :)))))
9 ChrisR (#) Nov 26th, 2012 - 01:09 pm Report abuse
7 Idlehands

I wish I could agree with your post, but that would mean the 'government' knew about the consequences and 'took a blinkered approach'.

I don't think they even UNDERSTOOD the consequences! ;o)
10 ptolemy (#) Nov 26th, 2012 - 01:37 pm Report abuse
Sadly for Argentina, the word has gotten out and tourists are not coming here. It will take several years to recover and it is still in the down cycle.
11 Chicureo (#) Nov 26th, 2012 - 02:31 pm Report abuse
Tourism will dramatically increase after the fall of the Peso. We thought here in Chile that it would have happened months ago, but CFK somehow has hung on. How much longer? In the meantime, it's too expensive to take vacations in Argentina. There are too many other great options that have no currency controls. My family ski vacation was reasonable only because I used the Argentinian underground economy to book a package deal, but most Europeans and Americans would never do the same.
12 Captain Poppy (#) Nov 26th, 2012 - 02:44 pm Report abuse
Asslips and her group of morons need to be the ones to change the official rate. Can you imagine what it would be it it traded openingly?
13 Brit Bob (#) Nov 26th, 2012 - 03:34 pm Report abuse
I wonder why no one wants to visit Argenwhinger?
14 Nostrolldamus The 2nd (#) Nov 26th, 2012 - 03:34 pm Report abuse

And what makes you think it won't be the Chilean Peso or Brazilian real that fall?

Even in the last year, Chile and Brazil are not the “shining” stars of the anglo-saxon banking clandestine coven they were at the open of 2011. And one year is very quick change when we are talking decades of similar policies in both countries... goes to show you, put your faith in the praise of those people at your own peril.
15 Pirate Love (#) Nov 26th, 2012 - 04:08 pm Report abuse
@14 deflecting his beloved argentine issues yet again with his anglo-saxon love,

16 Captain Poppy (#) Nov 26th, 2012 - 04:09 pm Report abuse
Titti boi you love the word anglo saxon and unbeknownst to you, you are nonetheless a caucasoid....seeing you like to use labels. What is the sub classification of your genus being you are not anglo saxon?
17 Nostrolldamus The 2nd (#) Nov 26th, 2012 - 04:13 pm Report abuse

I've said innumerable times, I am not European. I would have self-excoriate myself if that were the case, out of rebarbative repulsiveness.
18 Troy Tempest asshole (#) Nov 26th, 2012 - 04:36 pm Report abuse
You see, I told you Isolde is married to Captain Poppy/Conqueror and residing in the islands,,,,
19 Captain Poppy (#) Nov 26th, 2012 - 04:37 pm Report abuse
you lack of “formal” education is evident. The are real ways you can work on your self esteem issues that mom was the rooted cause from terminating your formal education at such a young age. Try it titti boi.
20 Nostrolldamus The 2nd (#) Nov 26th, 2012 - 04:45 pm Report abuse
Well, talk about keeping within topic.

Anglo-saxons, as predictable as pouring salt to a slug.
21 Ayayay (#) Nov 26th, 2012 - 05:07 pm Report abuse
@6 Airfare watchdog. March, seems like plenty of availability.
22 Captain Poppy (#) Nov 26th, 2012 - 05:09 pm Report abuse
OK on tpoic.....why the drop in toruism.........let me guess You don't care...right? Neither does North Korea.
23 Pirate Love (#) Nov 26th, 2012 - 05:15 pm Report abuse
@20 @21 and still more off topic anglo saxon obssession,
im sure you love the sound of wait for it .....

SELF-DETERMINATION! that i typed on my anglo saxon keyboard, however no matter how you type it, it still sounds SWEET,

heres an idea for the Arg trolls attempt to make deflective replies that are negative towards their beloved kirchner model and the world will be tricked into thinking Argentina is Compentent......oh you are!!
24 Captain Poppy (#) Nov 26th, 2012 - 05:21 pm Report abuse
#22 Ayayay....yes starting at 1200+ is you want to make 3 or 4 stops and 6 hour layovers. Boston to Ezeiza is a 11.5 hour flight, who wants to make a 24 day with 6 hour layovers for 1200?

Titti boi when is the peso cropping so I can get more bang for my dollar?
25 Nostrolldamus The 2nd (#) Nov 26th, 2012 - 05:33 pm Report abuse

First of all there is no “Drop in tourism”, that just the typical anti brain's IQ level in full display.

There was a shift in “balance of trade”, because many more argentines went on vacation outside the country. Very different from “fewer tourist coming in”. But that would be dealing with facts and clarity, something the anti-argies find confusing.
26 Captain Poppy (#) Nov 26th, 2012 - 05:46 pm Report abuse
Vacationers have a visibly impact on international trade? lolololololololololololololololololololol.......wait a minute lolololololololololololololololololololololol
27 Nostrolldamus The 2nd (#) Nov 26th, 2012 - 05:52 pm Report abuse
balance of trade in the tourist inflow/outflow of currency you dolt... do some brain sticklers, you really need them.
28 Chicureo (#) Nov 26th, 2012 - 06:30 pm Report abuse
And what makes you think it won't be the Chilean Peso or Brazilian real that fall?
Even in the last year, Chile and Brazil are not the “shining” stars of the anglo-saxon banking clandestine coven they were at the open of 2011. And one year is very quick change when we are talking decades of similar policies in both countries... goes to show you, put your faith in the praise of those people at your own peril. Unquote

You are correct! Gosh, I guess the best thing is for you to keep your savings in Argentinian Pesos and be rest assured that your money is safe. B
29 Conorworld (#) Nov 26th, 2012 - 07:32 pm Report abuse
The reason why tourism boomed in the last 10 years was because after the end of the dollar peg, Argentina became pretty cheap and for a short while at the start, insanely cheap. Those times are gone and many tourists are balking at prices for many things. The rapid increase in prices has not been offset by a similar increase in quality of the experience. That's why less tourists are going to Argentina.

The increase in Argentine travel abroad is unsustainable with the current currency restrictions and the artifically high official peso rate.
30 British_Kirchnerist (#) Nov 26th, 2012 - 08:33 pm Report abuse
Cristina's priority is not to help the already rich go on holiday, but to protect the economy from attack for the poor; even these sacrifices wouldn't be necessary without the external attacks like the Griesa ruling
31 Captain Poppy (#) Nov 26th, 2012 - 09:22 pm Report abuse
Incoming toruism helps normal ecomonies BK, be they rich tourist or not
32 Simon68 (#) Nov 27th, 2012 - 04:57 pm Report abuse
Pavada de negative balance!!!!!

2.3 billion negative balance against 304 million positive balance, I would say that our national tourism is up Shit Creek without a paddle!!!!!
33 andy65 (#) Nov 28th, 2012 - 01:13 am Report abuse





Argentina ranked 100 one of the most corupt countryts in the world-who the hell would want to go there?????
34 Frank (#) Nov 28th, 2012 - 05:00 pm Report abuse
Qantas stopped flying to BA a year ago because the planes were flying near empty. Now they are running full aircraft into Santiago
35 andy65 (#) Nov 28th, 2012 - 08:54 pm Report abuse
Aerolines Argentines flys near empty every where bankcrupt and nationalised to save face.

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