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Argentina’s Tourism Gap Widens in August as Outbound Jumps 56% and Net Deficit Reaches 696,700

INDEC cites a misaligned exchange rate that makes foreign trips cheaper for Argentines, dulling inbound spending.

Overview

  • A total of 1,361,200 residents left the country in August, up 55.6% year over year, including 798,400 tourists and 562,800 day-trippers.
  • The month closed with a net deficit of 696,700 visitors, as 664,500 non-residents entered Argentina, split between 397,500 tourists and 267,000 excursionists.
  • Outbound travel was concentrated in neighboring countries, with 65.8% choosing nearby destinations led by Brazil (20.8%), Chile (16%) and Paraguay (14%).
  • Argentines spent an estimated US$618.9 million abroad in August with average daily outlays of US$95.2, compared with US$247 million in inbound receipts at US$83.6 per person per day.
  • Inbound flows were mostly regional at 68.3%, led by Brazil (29.6%) and Uruguay (16.7%), with Brazilian arrivals down 13% year over year and a rise reported from Europe.