Uruguayan spending on Argentina grows impressively, while that of Argentines in Uruguay recedes, according to the latest data from the Ministry of Tourism, corresponding to the quarter April June, reflecting the trend that skyrocketed due to the exchange difference.
According to official data, Uruguayan spending in Argentina between April and June was estimated at 305 million dollars. The figure is top 80% to that registered in the same period of the year 2019 (pre-pandemic), in real terms, according to the calculations of CPA Ferrere, something that was ratified by the influx of visitors during the Winter Break.
On the contrary, the spending of Argentines in Uruguay is estimated at about 100 million dollars in the same period, a fall of 43% real compared to the year 2019. Thus, the tourist balance was negative in 205 million dollars in the second trimester.
Behind this trend is the significant exchange rate difference with Argentina, generated by the application of the stocks to the dollar in the neighboring country, which allows Uruguayans to spend in Argentina by selling the US currency at the parallel rate (Dolar blue), which is almost 90% higher than the official dollar.
Although the products imported in Argentina they are at values close to those registered in Uruguay, measured in dollars, transportation services, gastronomy, hotels, culture and even educational services are available in Argentina at substantially lower prices to Uruguay.
The situation has led to claims of several business chambers and also of political representatives, who are asking the Uruguayan government for measures to mitigate this situation, which is seriously affecting the commercial and tourist sectors, particularly the Uruguayan coast.
How are the figures if the total account is analyzed
The incidence of Argentina in the outbound and inbound tourism accounts of Uruguay is key. Even so, the Uruguayans too they increased spending in other destinations, while the arrival of tourists from other origins, other than Argentina, it also increased, although more moderately.
By consolidating all these figures, it can be seen that the total income from tourism in Uruguay down 7% real in the second quarter compared to the same period in 2022, falling to 278 million dollars. Is he minimum since 2011, according to the calculations of CPA Ferrere.
In turn, spending by Uruguayans abroad rose 57% real in the second quarter compared to the same period of 2022, reaching 478 million dollars, a maximum since 2011. Thus, the balance is negative in about 200 million dollars.
Source: Ambito
