In July, outbound tourism grew for the fifth consecutive month and inbound tourism registered its fourth consecutive decline.
Within the framework of the exchange rate appreciation that Argentina has been going through for several months now, In July, outbound tourism grew again and inbound tourism fell. In particular, a jumped 145.6% year-on-year in the exodus of residents to Chilewhich was complemented by a significant 46.6% drop in the number of trans-Andeans arriving in the country.
According to a report published this Monday by INDEC, during the seventh month of the year, which included the two weeks of winter vacation, 666,600 people chose to travel abroad, a 24.4% more than in July 2023. In parallel, the foreigners who chose to visit our country were 508,800, a 17.7% less than last year.
This was the fourth consecutive decline in inbound tourism, while outbound tourism grew. for the fifth month in a row. This occurs in a context in which The official exchange rate rose below inflation during all months of 2024, and in this way completely erased the discreet jump it had had in December, starting with the devaluation validated by the Government of Javier Milei in its first days.
In concrete terms, this means that Argentina is becoming more and more expensive in dollarsin relation to the rest of its business partners.
In terms of tourism, the exchange with Chile was the one that most reflected this dynamic. Uruguay was another country with which something similar was observed.with a 7.8% increase in the number of Argentines who crossed the “pond” and a 38.2% decrease in the number of trips to the other side.
In all the countries surveyed by INDEC, there was more outbound tourism than a year ago. On the inbound side, not all of them were declines; Brazil and the European Union were two cases in which the number of people who set foot in Argentina exceeded that of last year.
Source: Ambito
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