The current dynamics of tourism puts the BCRA’s exchange balance in check. Particularly noteworthy is the growth in trips to Chile and the decrease in the arrival of Chilean tourists.
In August, the arrival of foreign tourists fell again and the exodus of residents to other countries grew.. It was the fifth consecutive month with the same dynamic, largely explained by the increase in the price of Argentina in dollarsa consequence in turn of the exchange rate delay.
According to a report published by INDEC this Thursday, in the eighth month of the year they arrived in the country 418,500 foreign tourists, a 17.5% less than in August 2023. In parallel, they were 513,700 inhabitants of Argentine soil who traveled abroad, representing an interannual increase in 12.3%.
Chile, the preferred destination of Argentines
From April Outbound tourism has been showing significant annual increases, while inbound tourism has shown sustained declines since then. Particularly noteworthy is the exchange with Chilifor which this trend has been verified since March.
During the past month, the number of Chileans who arrived in national territory contracted by 38.1% annually, a negative variation only surpassed by the -46.3% recorded by Uruguayans. In parallel, the number of residents who crossed the mountain range jumped by 81.3%; In this way, the trans-Andean country became the main destinationdisplacing Brazil from this place.
Brazil This time he took second place, while Europe completed the podium. 55.7% of residents who traveled abroad did so for airway; 37.5%, by land; and 6.8%, through the river/sea route.
Regarding incoming tourism, Brazil contributed the largest amount with 32.3%followed by Uruguay with 17.1% and Chile with 9.9%. 57.2% of non-resident tourists arrived in Argentina by air; 32.4% used the land route; and the remaining 10.4% arrived by river/sea route.
Argentina became expensive in dollars
This behavior of tourism is closely linked to the price of the dollar, which has been increasing steadily below inflation. This made domestic prices much more expensive for foreigners who come to the country and have to exchange their dollars/euros at the official exchange rate.
It is worth remembering that the Multilateral Real Exchange Rate (TCRM), according to the BCRA, is the second lowest in September since mid-2017, only surpassed by the level of November 2023.
Source: Ambito
