Economic news.
Argentina’s peso soars since the beginning of summer and gained a bit more than 11%.
With the help of IMF, which has given the largest bailout loan of US$ 56.3 billion, Argentina felt some ground under its feet. After spending over US$ 15 billion on financial stabilization measures, the Goverment has decreased interest rate to 60.8%, which is still the highest in the world. We are expecting some decrease in inflation rate from more than 10 years highs of 57.3%.
In June President Macri announced leader Pichetto as his running mate in October’s election which made his chances for re-election much higher than before. This gave some stability to the whole situation in Argentina and investors, including foreign funds, are more optimistic about future.
Argentina is still a cheap place to travel in 2019.
Tourism news.
According to the recent research by Taxi2Airport, Argentina is in top 10 countries with the cheapest taxi fares. The service has made analysis of average taxi fare equal to 5 km, in Argentina you will spend 2.44 Euro. In comparison, in Switzerland the same would cost you 22.68 Euro!
Argentina has outstanding tourism statistics regarding last year. Buenos Aires has visited 2.7 million international tourists, which brought US$ 3 billion for the city. The Buenos Aires government released an official report highlighting that British visitors from London increased by 31%, and Chinese arrivals from Amsterdam grew by 46%.
From July 6 until July 9, the 15th edition of celebration of Argentina’s flavors, held in La Rural complex in Palermo neighborhood. Gastro holiday for natural food lovers!
