Argentina’s Rich Neighbors Cut Back on Visits Due to Strong Peso
- South Americans travel less to a more expensive Argentina
- Number of Uruguayans visiting Argentina fell by nearly half
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Argentina’s wealthier neighbors are vacationing far less in the South American country famed for its beef, red wines and cosmopolitan capital as President Javier Milei’s currency policies turn a dreamy tourist bargain into an expensive outlier.
Tourists visiting from Uruguay and Chile – countries that boast higher per capital incomes than their larger neighbor — fell at least 30% in December from a year ago, according to Argentina’s statistics agency Indec. Uruguayans spent about $780 million in Argentina last year, a drop of $469 million from 2023, as the number of visitors tanked by nearly half to just 2.1 million over that period, according to Uruguay’s tourism ministry.