Outbound tourism from Argentina to Chile up 130% Year over Year

[BuySellBA]

Outbound tourism from Argentina to Chile has skyrocketed in 2024, confirming the trend of recovery and surpassing pre-pandemic levels. The most recent data shows a significant increase in the flow of Argentine tourists to Chile.

Outbound tourism from Argentina to Chile recorded an impressive 130% year-over-year increase in November 2024. This substantial increase reflects a strong recovery and renewed interest from Argentines in visiting the neighboring country.

Regarding the cumulative figures for the first 11 months of 2024, there is a 66% growth compared to the same period in 2023. This data indicates a sustained growth trend throughout the year.Several factors have contributed to this boom in Argentine tourism in Chile:

-Shopping tours: The popularity of shopping trips to Chile has been a key factor, driven by favorable prices for Argentines.

-Geographic proximity: Chile's proximity, especially for accessing Pacific beaches, has been a significant attraction.

-Increased connections: There has been an increase in tourist influx both by air and land, with the Cristo Redentor pass playing a crucial role.

Also, the booming costs in Argentina have pushed many to go to Chile for trips and to buy things.

Chile has consolidated its position as the preferred destination for Argentine tourists, surpassing other popular destinations such as Brazil and Europe. In September 2024, nearly 116,000 Argentines visited Chile, representing a 130.6% increase compared to the previous year.Given the continuous growth and Argentines' preference for Chile as a tourist destination, this positive trend is expected to continue. The Chilean tourism sector significantly benefits from this flow of visitors, contributing to the local economy and strengthening tourism ties between both countries.

https://twitter.com/x/status/1870194820142248308

 

[Spend Thrift]

I don't blame them. I can't see good reason to not go outside of Argentina where things are half the price. I have been in Rio the past few weeks and coming back to BA feels so expensive compared to Brazil!

 

[Floripa]

Yes last year all of us from Brazil where coming to Argentina and it felt so cheap. Now it is very expensive with inflation and with bad exchange rate. Brazil is on sale now. Maybe in one year it will be different again. Anyone guess.

 

[Vince]

Some friends from Brazil are in BA now and they have sticker shock. They haven't been in BA since last year. Saw this and laughed.

https://twitter.com/x/status/1870268188950176044

 

[Uncle Wong]

I didn't realize Chile was so popular for Argentines. I would have thought Brazil would be #1. I wasn't that impressed with Chile TBH.

 

[earlyretirement]

I didn't realize Chile was so popular for Argentines. I would have thought Brazil would be #1. I wasn't that impressed with Chile TBH.

Brazil is probably going to overtake it in 2025 with their Real situation.

https://twitter.com/x/status/1870547946380615764

 

[BuySellBA]

Here are some updated official numbers out from the INDEC. Tourism as expected is down drastically from last year. In November 2024, the # of international tourists entering Argentina decreased by 19.2% YoY and the number of tourists leaving increased 43.2%.

https://twitter.com/x/status/1871313628470616336

Original content from here: https://www.indec.gob.ar/uploads/informesdeprensa/eti_12_24673DF04F44.pdf

 

[Surfer]

I would have to believe this will keep getting worse unless the peso gets to some realistic value. All of the domestic tourism will die off if the situation in Brazil gets worse and the peso stays the same. It looks like peso is starting to weaken but hard to tell if this is just end of the year stuff or people are rushing to get into dollars.

 

[Flamingo]

Here is an article in the Financial Times that also talks about the sagging tourism in Argentina because of overvalued peso.

Tourism squeezed in Argentina as peso strengthens

High prices in dollars deter foreigners and fuel Argentine holidays to Brazil

www.ft.com

No paywall

 

[Finance Prof]

Here is an article in the Financial Times that also talks about the sagging tourism in Argentina because of overvalued peso.

Tourism squeezed in Argentina as peso strengthens

High prices in dollars deter foreigners and fuel Argentine holidays to Brazil

www.ft.com

No paywall

Wow didn't know tourism was 8.8% of GDP. That is huge. Argentina will really miss out in 2025 if they don't adjust the strength of the peso. Domestic tourism will get totally destroyed.

 

[Uncle Wong]

Here is an article in the Financial Times that also talks about the sagging tourism in Argentina because of overvalued peso.

Tourism squeezed in Argentina as peso strengthens

High prices in dollars deter foreigners and fuel Argentine holidays to Brazil

www.ft.com

No paywall

Thanks for posting this. It sounds like the big fall is from Latin America. Good statistic that Americans and Canadians are only down 11.5% from last year. And travel from Europe actually grew! Guess all the broke mads that don't have money aren't coming but sounds like they are replaced with more affluent tourists which is probably a good thing.

 

[Avocado]

Thanks for posting this. It sounds like the big fall is from Latin America. Good statistic that Americans and Canadians are only down 11.5% from last year. And travel from Europe actually grew! Guess all the broke mads that don't have money aren't coming but sounds like they are replaced with more affluent tourists which is probably a good thing.

That surprising to hear Americans only down 11.5%. I see restaurants empty compared to before. I wonder if these are correct or maybe all the cheap digital nomad all leaving and that was who I was seeing. I think many leave Argentina for cheaper place.

 

[Digital Nomad]

That surprising to hear Americans only down 11.5%. I see restaurants empty compared to before. I wonder if these are correct or maybe all the cheap digital nomad all leaving and that was who I was seeing. I think many leave Argentina for cheaper place.

I think that is what you are seeing. I know many digital expats that have left BA so maybe it was these people that were supposed to be here for tourism finally left. There was a big group that was in Palermo but now they left.

 

[Blockchain]

Is Chile worth going to? I haven't been there but don't hear too much about it from American tourists.

 

[Pobre Luis]

Is Chile worth going to? I haven't been there but don't hear too much about it from American tourists.

Chile is not a popular destination for American tourists. I don't see that changing any time soon. Does not have the flair of BA.

But tourism is falling in Argentina like a rock with the exchange rate.

Crece el saldo negativo por los viajes y compras en el exterior, pero el 60% de ese dinero se paga con dólares propios

El rojo de la balanza turística creció fuerte en 2024, acercándose a los USD 5.700 millones y en enero último el salto habría sido muy significativo. El BCRA utilizó casi de manera directa e indirecta más de USD 17.500 millones para evitar un salto del tipo de cambio

www-infobae-com.translate.goog

 

[Jeep]

Chile is not a popular destination for American tourists. I don't see that changing any time soon. Does not have the flair of BA.

But tourism is falling in Argentina like a rock with the exchange rate.

Crece el saldo negativo por los viajes y compras en el exterior, pero el 60% de ese dinero se paga con dólares propios

El rojo de la balanza turística creció fuerte en 2024, acercándose a los USD 5.700 millones y en enero último el salto habría sido muy significativo. El BCRA utilizó casi de manera directa e indirecta más de USD 17.500 millones para evitar un salto del tipo de cambio

www-infobae-com.translate.goog

2025 will probably be even worse with tourism. Government doesn't sound like Cepo will end any time soon. There are rumors of Milei getting frustrated with Caputo. Not sure if they are true or not.

“December marked the seventh consecutive month of deficit in the current account of the BCRA's foreign exchange balance, and for the first time since June 2023 it also includes a deficit in the trade balance. The current account deficit on a cash basis - which excludes a portion of exports under the blend , imports financed with commercial credit or transactions at the parallel exchange rate - was USD 1,144 million, while the trade balance registered a deficit of USD 39 million for the first time since June 2023,” explained a report by Max Capital.

El Banco Central compró USD 17 millones en el mercado en la primera rueda cambiaria de febrero

La entidad monetaria viene de encadenar seis meses consecutivos con saldo positivo por su intervención cambiaria. Las reservas del BCRA subieron en USD 1.149 millones, a USD 29.456 millones por movimientos técnicos de los bancos

www-infobae-com.translate.goog

 

[España]

Here is an article in the Financial Times that also talks about the sagging tourism in Argentina because of overvalued peso.

Tourism squeezed in Argentina as peso strengthens

High prices in dollars deter foreigners and fuel Argentine holidays to Brazil

www.ft.com

No paywall

Argentina is losing out big on tourism. All my friends that came on their yearly trips to Argentina are skipping out this year. Expensive flights and rising cost of vacation in Argentina is causing people to go to other places.

 

[Peabody]

The restaurant prices in BA are getting too expensive. I wonder how they can all stay in business? I noticed a big slow down in people dining out. Some of the cafes I have seen busier are very slow. I know some people are on vacation but even accounting for that I can't help but think that people just can't afford it anymore. Almost everyone I know says they have cut back from going out.

 

[JonJLA]

The restaurant prices in BA are getting too expensive. I wonder how they can all stay in business? I noticed a big slow down in people dining out. Some of the cafes I have seen busier are very slow. I know some people are on vacation but even accounting for that I can't help but think that people just can't afford it anymore. Almost everyone I know says they have cut back from going out.

There are still plenty of people dining out. I was in BA last week and La Mar was packed every time I walked by at night. My girlfriend lives across the street and always packed. I do notice less tourists than usual. I wonder how much tourism is down right now.