He dollar cardthe one used by Argentine tourists in it Uruguaywill drop 20% starting December 23, coinciding with the summer season, which could favor spending on the country’s coast.
The government of Javier Milei had promised to put an end to COUNTRY tax at the end of the year, which together with the perceptions of Earnings and Personal Property tax the value of the dollar by 60%, making that exchange rate the most expensive of the various ones in force in Argentina.
The card dollar will remain around 1,300 Argentine pesos, which would imply a reduction of around 20% with respect to current values, they explained to Scope in Argentina since Customs Collection and Control Agency (ARCA). Currently this exchange rate is 1,666.77 Argentine pesos.
The news is beneficial for the Uruguayan tourism sector, which is already feeling the effects of the rising prices of Argentina with a reduction in outbound tourism to that country – which last year caused a tourism deficit and a consumption diversion of US$ 500 million – and a return of Argentine tourists to the coast for this summer.
The Argentines, even with a high card dollar, have closed 80% of the rentals for the season in Punta del Este and destinations focused on the middle class, such as those spas in the department of Cannelloniexpect your return this summer.
A lower exchange rate is also key to motivating spending by tourists from the neighboring country. Although last summer there was a record of more visitors than in 2023, the expenditure they made was lower and this affects the entire chain of jobs linked to the tourism sector.
“The spending of Argentines in Uruguay will be considerably higher, in the next first quarter, than the 427 million dollars they spent in the first quarter of this year,” projected the last Economic Situation Monitor prepared by the Economic Situation Observatory of the Catholic University of Uruguay (UCU).
In addition, since November 15, several activities linked to tourism are not taxed with the Value Added Tax (VAT). “Foreigners and Uruguayans who live abroad, as long as they pay with a credit or debit card issued abroad, will not pay VAT on gastronomy or on car rental without a driver,” he recalled. Remo Monzeglioundersecretary of the Ministry of Tourism.
Source: Ambito
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