“Although the loss of purchasing power of the Argentine peso falls and Argentine families have problems filling their baskets of goods and services before the arrival of spring, the temporary preference for increased spending is consolidated. Argentines come from 2 previous years with social restrictions that made it impossible to carry out social, cultural and sports activities typical of this season,” said Damián Di Pace, Director of Focus Market Consulting.
In the case of the usual Spring Expenses with a higher level of preference, in the event that a person goes out 3 times a month to consume in bars, they will have an additional expenditure of $7,600. If they also choose to have ice cream 4 times a month, the total it will be $4,700. If he goes back to the gym every month he will spend $9,500. The sum of these usual expenses with Spring preference projects an additional expense per person of a total of $21,800 per month
“Argentines have little room to increase their usual expenses and need to oxygenate their pockets with financing for their occasional ones. The Plans Now 12 rate subsidized by the Government grows to more than 170% and in the case of 24 quotas, their interannual use increased 250%. Two of the items with the most spring seasonality are the ones chosen to finance, as is the case of clothing and tourism,” added the economist.
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occasional expenses
In the case of Occasional Spring Expenses with a higher level of preference, in the event that 1 person returns to the Gym and has to renew their sports equipment by purchasing a t-shirt, shorts or leggings and a pair of sneakers, they will spend $37,900. If you have the possibility of traveling for 1 week accompanied by another person to Iguazú Falls by plane with a 3* Hotel and breakfast included, you will have to spend $152,000. Adding up these occasional Spring expenses gives us a total of $189,900.
“Within Occasional Expenses, Tourism is one of the sectors with the highest growth expectations, favored by an unfavorable exchange rate for vacations or weekend getaways abroad, plus the use of the Pre-Travel Plan, which was an incentive for local trips. Tourists, according to the CAME, increased their spending level by more than 100% at the end of the Pandemic in 2022, which is explained by the fact that more people traveled and because the greater distances travelled, the celebrations and other paid activities that were available at the 100%, forcing more resources to be allocated to these mini vacations.The average expenditure per tourist is about $7,800.- with a stay of 2.5 days on an extra long weekend.In the case of excursionists, their average expenditure is $2,480,” the report concluded.
Source: Ambito
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