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Argentina recession leaves once-bustling Buenos Aires restaurants hustling for customers
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Betsy Ross
Well-known member
Considering the lower cost of living was an important trade-off for some other things that lack here (this is of course a very subjective matter), it's dreamy appeal might be diminishing over some other latin american countries.
However I definitely don't mean to complain, when many people here are genuinely struggling to make the ends meet.
I witnessed how the prices of Coca-Cola increased (both in pesos and dollars) within months, given its popularity Argentinians must be very upset. Talking of restaurants and cafés, notably Starbucks recently raised its prices again just this week, having even a basic brewed coffee seems more expensive than in the US. Local coffee chains aren't offering more affordable options either.
However I definitely don't mean to complain, when many people here are genuinely struggling to make the ends meet.
I witnessed how the prices of Coca-Cola increased (both in pesos and dollars) within months, given its popularity Argentinians must be very upset. Talking of restaurants and cafés, notably Starbucks recently raised its prices again just this week, having even a basic brewed coffee seems more expensive than in the US. Local coffee chains aren't offering more affordable options either.
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VINO
Well-known member
I know how you feel @dai. BA is a fun city but like you mentioned, there were always trade offs. I put up with some of the negative things because it was more affordable. Now when things are more expensive I have to think if the trade offs are still worth it if prices keep going up.
I also hate to complain because locals have it much worse but still feel like it's ok to talk about how costs have gone up as an expat since this is an expat forum. I keep hearing how inflation is going down but not finding that to be reality for most things. Transportation costs have gone up, my utility bills have gone way up, my monthly condo expense doubled recently. And coffee is just gouging at this point in BA. Like you said, it's more expensive in BA vs. at home.
I hear things could go even higher. If that happens it will be time to move on to another area. It doesn't make sense to pay these kind of prices here when the economy is still struggling so much. The restaurants and cafes that I usually go to are definitely slower.
Uncle Wong
Well-known member
What other Latin American countries are on your list @dai? All my local friends are also complaining on a daily basis. And these aren't Peronists but people that voted for the new President and were willing to give him a chance.
One thing I don't understand is there are many locals that post about them wanting it bo e really expensive for foreigners. I don't understand this logic? If it gets expensive in dollar terms, no tourists will want to come or at least not as many as before. What is their logic in thinking this way? If prices keep going up, I'm taking it off my list of places to possibly move for the short-term.
Exactly what my friends living there now in Palermo are saying. They moved there last year probably when things were less than half or more of what they cost now. They were willing to put up with dog poop on the streets and sidewalks, bad customer service, slow service, expensive electronical items, lack of variety of stuff in stores, bad grocery stores and other things if prices were reasonable but they say many things are just nuts. They aren't eating out as much and my girlfriend drinks about 3 or 4 cups of coffee a day and she has cut down to once a day.
I also read these silly posts. Many seem to get angry that tourists are here when the blue dollar is strong. Doesn't make sense to me but then again many things don't make sense to me about Argentina.
Lucia
Member
For a while, Argentina became an attractive place for tourists looking to settle down, thanks to the good exchange rate and high quality of life. But a lot of these newcomers seem to focus only on complaining about the economic crisis. While it’s understandable to feel frustrated, it’s also important to recognize the unique opportunities this country offers, from its rich culture and stunning landscapes to its communities.
It’s worth noting that expats can always choose to move to another country, even back to their own, while locals living through this crisis really have no choice but to tough it out. Instead of just pointing out the negatives, there should be a push for a more balanced view that highlights both the challenges and the incredible potential Argentina has for those willing to make it their home.
It's good to know that here foreigners are always welcome. Just look at Spain, especially Barcelona; they’re still in crisis with tourists being attacked for months now.
www.infobae.com
It’s worth noting that expats can always choose to move to another country, even back to their own, while locals living through this crisis really have no choice but to tough it out. Instead of just pointing out the negatives, there should be a push for a more balanced view that highlights both the challenges and the incredible potential Argentina has for those willing to make it their home.
It's good to know that here foreigners are always welcome. Just look at Spain, especially Barcelona; they’re still in crisis with tourists being attacked for months now.
El verano en que Europa se volvió contra los turistas
Manifestantes en Barcelona utilizaron pistolas de agua contra visitantes para demostrar su inconformidad con el turismo masivo que daña la vida local
www.infobae.com
GraceHill
Member
This is a good point Lucia. Argentina has so much to offer but unfortunately a lot of brokemads are going to go where the dollar is strong and their cost of living is low. I am sure some consider the plight of locals but many are only self interested on going where their dollar can last the longest.For a while, Argentina became an attractive place for tourists looking to settle down, thanks to the good exchange rate and high quality of life. But a lot of these newcomers seem to focus only on complaining about the economic crisis. While it’s understandable to feel frustrated, it’s also important to recognize the unique opportunities this country offers, from its rich culture and stunning landscapes to its communities.
It’s worth noting that expats can always choose to move to another country, even back to their own, while locals living through this crisis really have no choice but to tough it out. Instead of just pointing out the negatives, there should be a push for a more balanced view that highlights both the challenges and the incredible potential Argentina has for those willing to make it their home.
"It's good to know that here foreigners are always welcome. Just look at Spain, especially Barcelona; they’re still in crisis with tourists being attacked for months now."
El verano en que Europa se volvió contra los turistas
Manifestantes en Barcelona utilizaron pistolas de agua contra visitantes para demostrar su inconformidad con el turismo masivo que daña la vida local
Hopefully things improve here for everyone. Expats and also locals. I think there is a danger to having the peso too strong because it will drive out a lot of travelers here and that won't be good for anyone.
earlyretirement
Moderator
Definitely, businesses are feeling the pinch. As @Darksider415 mentioned when you are seeing places like Don Julio offer 20% discounts you know things are slowing down. I also see Don Julio is paying X users to advertise and spam advertisements on Buenos Aires threads. I forecasted late last year that restaurants would really feel the pinch during this recession due to jumping utility bills and during a recession like this it is difficult to raise prices even more.
Interesting choice of words calling some expats brokemads. That is probably a fitting term for a lot of digital nomads in Buenos Aires. I've been coming to Buenos Aires since 2001 and I've seen many cycles of expats coming to Argentina when it's cheap and exiting when it gets more expensive. It's happened a few times now and I don't see this cycle as any different.
The ones that I've seen that have staying ability are the ones that have decent USD/Euro/Sterling income (via pensions, remote work or rental income) and most of them own their own properties in Argentina and aren't forced by any volatility with what is going on locally. Argentina over the past several decades has had boom and bust cycles. I like many of the things President Milei is doing but I also think he is making some mistakes as well. You can't inherit a mess like he did and turn the country around quickly. This pain is going to continue to be felt for quite some time.
The best that people can do is ride out the storm. At least most expats can leave to other places but locals have it much more difficult.
Interesting choice of words calling some expats brokemads. That is probably a fitting term for a lot of digital nomads in Buenos Aires. I've been coming to Buenos Aires since 2001 and I've seen many cycles of expats coming to Argentina when it's cheap and exiting when it gets more expensive. It's happened a few times now and I don't see this cycle as any different.
The ones that I've seen that have staying ability are the ones that have decent USD/Euro/Sterling income (via pensions, remote work or rental income) and most of them own their own properties in Argentina and aren't forced by any volatility with what is going on locally. Argentina over the past several decades has had boom and bust cycles. I like many of the things President Milei is doing but I also think he is making some mistakes as well. You can't inherit a mess like he did and turn the country around quickly. This pain is going to continue to be felt for quite some time.
The best that people can do is ride out the storm. At least most expats can leave to other places but locals have it much more difficult.
Johnny
Well-known member
What will be the breaking point @dai? I met a few expats in BA while I was there last year and several of them said exactly what you're saying about the tradeoffs. At what point do you throw in the towel?
I am just trying to understand things. I went in November 2023 and thought it was dirt cheap but prices have gone significantly higher. Do you not find Buenos Aires worth it at current prices?
Johnny
Well-known member
That is crazy. Last November there was a 2 month wait online. How quickly things change.
Jeep
Active member
I am a self-proclaimed digital brokemad now. Inflation here is the opposite of slowing down. All my expenses are going up at dizzying rates. My healthcare plan has jumped up, my electricity bill has skyrocketed, same with gas and water. Hell even my internet and cable bill jumped up. I am paying the monthly condo fee in my new lease and it is 200% higher than just the start of this year.
I am on a fixed income from my social security payment and it is barely getting me through the month now. If things keep going up like this I have to look at cheaper options.
I am noticing a few places going out of business now that have been around for a while. Did Green Bamboo go out of business? Google shows them permanently closed. Bummer as I got a gift card a few months ago for my birthday and now it looks like they are out of business! They have been around since 1999 and guess it couldn't handle this recession.
Betsy Ross
Well-known member
I did hear that it went out of business. That place has been around for over 20 years. Probably several places will go under with these increases in utility bills. I can't imagine the margins are too good.
Blockchain
Well-known member
I ate there. I didn't think it was anything special at all. Their website is still up. They should take it down. That was one of the annoying things to me. Sometimes I would go to places that Google Maps showed open but when I went it was closed or out of business. At least Google Maps is showing them permanently closed.
Home - Green Bamboo
“La raíz hace sólido al árbol” Ho Chi Minh Desde 1999 en el corazon de palermo y gracias al apoyo de la embajada de Vietnam, ofrecemos auténtica comida vietnamita en Buenos Aires. Reservas Menú Todos los dias desde las 19 al cierre Costa Rica 5802, CABA “La raíz
greenbamboo.ar
What other places have closed down?
Vince
Well-known member
Wow that is a sign of the times if they shut down after 25 years in business. The last few times I went there it was only tourists in there and fairly dead so not surprised to hear it went out of business. Some local places can make it with just locals but restaurants like that with no tourists will probably die during this recession.I ate there. I didn't think it was anything special at all. Their website is still up. They should take it down. That was one of the annoying things to me. Sometimes I would go to places that Google Maps showed open but when I went it was closed or out of business. At least Google Maps is showing them permanently closed.
Home - Green Bamboo
“La raíz hace sólido al árbol” Ho Chi Minh Desde 1999 en el corazon de palermo y gracias al apoyo de la embajada de Vietnam, ofrecemos auténtica comida vietnamita en Buenos Aires. Reservas Menú Todos los dias desde las 19 al cierre Costa Rica 5802, CABA “La raíz
What other places have closed down?
A bunch of places are going under. Dogg in Palermo Hollywood just closed too. I think several of their locations went under. Not sure if the location in Belgrano is still around.
Uncle Wong
Well-known member
I ate at Green Bamboo. It was meh. I don't think the flavors in BA at the Asian restaurants are great. It was also fairly dead when I went. And all tourists there. I'm not surprised to see places like DOGG going out of business. Problem is when expenses are rising so quickly and you can't raise prices you just have to shut down or be willing to lose money until the recession is over.
That place was overpriced for just a hotdog. During recession no one wants to pay that kind of money for an American style hot dog. Places like Chori are ok because they have many local customers too. Last time I went to DOGG there was no one inside of it so not a surprise it closed.
The Asian restaurants here are not good. Most locals don't know what good Asian restaurants are so they don't know if it is good or bad but I am also not surprised that Green Bamboo closed. Many more will close.
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