There is no better time to come to Argentina than now!
A lot of foreigners are reading the fiscal news about Argentina and wondering what is going on with the peso value and the economy here—the answer is, the peso value has significantly dropped in the past month which is bad news for residents of Argentina and great news for foreigners wanting to take a vacation here!
What does the decreased peso value in relation to the USD and euro mean for tourists?
There are many benefits for tourists as the Argentine peso value continues to decline. For example, now more than ever tourists are finding their money goes a lot further here in Argentina. Tourists can now enjoy world-class hotels, restaurants, fashion, nightlife and more at a much more reasonable price for them than before. In an example sited in the Guardian article (link below), a seven-course tasting menu in one of the best restaurants in Latin America—HG Restaurant in Fierro Hotel Palermo—cost £36 a month ago and after the recent decrease in peso value now costs only £27.
How long will this devaluation of the peso continue? The answer to that is no one knows. The Central Bank of Argentina has drastically increased interest rates 5 times since April as a response to the risk of greater inflation and the peso exchange rate situation. Until the government can find a way to greater insulate Argentina from the continual shifts in global markets, there seems to be no end in site.
How can tourists take advantage of this current economic state in Argentina?
There is no better time than now for foreigners to take a holiday in Argentina and enjoy the best things Argentina’s culture has to offer at a more affordable price. More airlines than ever before are offering direct flights from foreign destinations such as London or Toronto making it even easier for tourists to come to Buenos Aires. Be sure to bring USD or Euros with you to exchange on your arrival—but don’t change all of them at once! The peso value changes daily and you may find that a week or two into your travels there will be a better rate for you to change your money.
Sleep smart—Treat yourself to nicer hotels, if you are accustomed to 2-3 star hotels while travelling on a budget, you’ll find that in Buenos Aires you can afford a 4 star hotel for the same price! Or, if you don’t feel the need to spend money on having your own room in a hotel, book one of the amazingly diverse styles of hostels in the city for an insanely cheap price—less than $20 USD a night!
Eat smart—many restaurants offer happy hours with discount menus at times that foreigners are accustomed to eating dinner (locals eat dinner closer to 9pm). La Cabrera is a hot spot for amazing steak dinners and their happy hour is their entire menu at 50% off!! An incredible deal for incredible food. Wine is also of very good quality in Argentina and very cheap so be sure to treat yourself to a fancy bottle of Malbec with your delicious steak dinner!
Travel smart—the metro in Buenos Aires is very easy to navigate and very cheap for foreigners at only 12 pesos a ride (roughly .30 cents in USD). The metro can take you to most of the tourist must-sees in Buenos Aires.