“Before the announcements of the Ministry of Economy, the exchange rate was closed, so they cancel before putting the dollar change. They play with the closing of the payment in pesos, they have been doing this for more than a year,” Sorbara added.
According to an analysis carried out by the Ecolatina consultantin August the outflow of foreign currency (gross) for trips and tickets and other expenses with cards They touched the US $ 800 millionthe highest value for this month since 2017. This data set off the alarms of the Central Bank and the Ministry of Economy due to the impact on the scarce reserves.
According to official data, the key point that motivated the measure is related to the universe of taxpayers who buy above US$300. What will be sought is to discourage “excessive” consumption of that 7% that forces the Central Bank to part with more than US$200 million.
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in tune, Pablo Aperio, Director of Travel Services indicated that travelers avoided any kind of jump in the dollar through advance purchases. “There is a smaller group that was waiting for definitions to see if they would travel and now they will have to reevaluate their decision. But those who had decided to travel practically anticipated this measure. This includes the World Cup in Qatar, which had been selling very well in recent months, even combined with other destinations like Egypt, Turkey, which were included in the same trip for some families”, he pointed.
The goal of slowing down the outflow of dollars may not change the equation in the coming months, even with the World Cup in Qatar. Tourism agencies say that travelers already have the necessary dollars for their stay abroad and that if they need them, resort to the informal dollar market.
Regarding possible increases before the measure was announced, they observed “a stable behavior in fares and prices, but it is true that if the reservation of a trip points to a date of high demand, the price will differ with those obtained a week before or after”.
Lastly, from Take off They were not satisfied with the change in the rules of the game: “The recently announced measures further discourage Argentines from traveling due to high tax burdens. Added to the constant changes in rules, which continue to affect tourism, this new measure makes it more difficult for an industry that has not yet recovered. of the enormous crisis of recent years and does not solve the challenge of generating income through receptive tourism”.
One important fact is that Despite the rising price of the dollar, Argentines continued to travel abroad. According to INDEC data as of July 2022, departures abroad reached a total of 213.4 thousand resident tourists. Meanwhile, in its last figure for the month of August, departures abroad increased to a total of 233.6 thousand touristsaccumulating an intra-year increase of 353.3%.
The question, then, is whether, with the rising price of the dollar, the percentage of tourists who wish to spend their vacations abroad will drop or will remain at the same levels. Everything indicates that it will not only be maintained but will be greater due to seasonality and the expected World Cup.
According to inquiries made by Ambit in different agencies, most agree that the impact will be more for trips that are taken out in 2023: “Any modification of conditions has an impact on sales and travel agencies feel it very strongly. Regarding the short term, we have to observe what happens after February.”
Source: Ambito
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