ForwardKeys: Argentina’s economic woes entice tourists

International travelers are flocking to Argentina, taking advantage of the poorly performing peso to boost the value of their holiday spending money, reports travel booking analyst company ForwardKeys.

Bookings for March to May are ahead 11.2% compared to last year, says the research firm.

For South America as a whole, bookings are ahead 5.8%. In the preceding year to February, international arrivals in Argentina were up 3.9%, compared to 5.5% for the entire region.

The booking information follows on TMI’s interview last week with ASUTIL Secretary General Jose Luis Donagaray, who reported that Argentina’s robust tourism arrivals have not translated into recovery of travel retail sales, as high inflation continues to erode local buying power.

ForwardKeys reports that Europe and Latin America are the fastest-growing markets for travel to Argentina. There is also an increasing number of travelers from China (+21.9%) and Israel (+15.9%), among the top ten countries by growth.

Uruguay heads the list with bookings ahead 34.3% on last year, for travel between March and May.  

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