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.
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 .
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35 comments Feed
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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?
And in the words of Think - Chuckle Chuckle!
#Argentina $396 rt incl. tax March travel
(other months available) twitpic.com/
bgkpju
“Progressive isolation” the new look kirchner model! I will drink to that!
Happy Christmas, Argentina! but i doubt it :)))))
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)
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.
SELF DETERMINATION!
I've said innumerable times, I am not European. I would have self-excoriate myself if that were the case, out of rebarbative repulsiveness.
You see, I told you Isolde is married to Captain Poppy/Conqueror and residing in the islands,,,,
Anglo-saxons, as predictable as pouring salt to a slug.
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!!
Titti boi when is the peso cropping so I can get more bang for my dollar?
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.
#14
Quote:
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
The increase in Argentine travel abroad is unsustainable with the current currency restrictions and the artifically high official peso rate.
2.3 billion negative balance against 304 million positive balance, I would say that our national tourism is up Shit Creek without a paddle!!!!!
Argentina
3.0
2.9
2.9
2.9
Argentina ranked 100 one of the most corupt countryts in the world-who the hell would want to go there?????
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