In September the balance of services showed a negative balance of US$650 million, according to the BCRA. Likewise, INDEC reported that outbound tourism had its largest annual increase in five months.
The deficit in the balance of services grew to $650 million in September, thus reaching a new record since Javier Milei is president. The “red” was generated mainly by Argentine trips abroad, which registered their highest year-on-year growth in five months.
In this way, the negative result in services was second component that puts the greatest pressure on reserves had in the ninth month of the year, behind public debt payments, which implied an outflow of US$1,232 million. The data comes from the statistics of the Central Bank (BCRA) on the evolution of the exchange balance.
Particularly, in terms of “travel and other card payments” and “passenger transportation” were US$594 million those that were lost from the coffers of the monetary authority. Although the figure was high, it was not higher than what had been seen in July; In that sense, the greater deficit in services with respect to that month was also explained by a lower dollar income for “business, professional and technical” services.
Outbound tourism had its largest year-on-year increase in five months
In parallel, this Friday the INDEC published its international tourism statistics report for September. He himself showed that The number of residents in the country who traveled abroad as tourists registered a year-on-year growth of 30.4%, the highest since April.
Just like what had been happening in the previous months, Once again, Chile was the destination that showed the greatest progressreceiving 77.5% more Argentine tourists than in September 2023. Significant increases were also seen in trips to other countries in the region.
On the contrary, The reception of foreign tourists in Argentina had an interannual drop of 15.9%although in this case there was a slight slowdown compared to previous months. The greatest casualties were observed in the arrival of Bolivians, North Americans and Chileans.
He real exchange rate delaywhich is currently the lowest since 2017, and the consequent increase in the price of Argentina in dollars explains a large part of this dynamic in tourism.
Source: Ambito
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