April 15 2019  |  Industry News

Argentina’s economic woes benefit tourists

By Jas Ryat

International travelers are flocking to Argentina, taking advantage of the poorly performing peso to boost the value of their holiday spending money, according to ForwardKeys, which predicts future travel patterns by analyzing 17 million flight booking transactions a day.

Bookings for March to May are ahead 11.2% compared to last year. 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.

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 10 countries by growth.

Heading the list is Uruguay with bookings ahead 34.3% on last year, for travel between March and May. The UK is showing a strong 33.5% growth for the same period.

Olivier Ponti, Vice President Insights, ForwardKeys, said: “Travelers are clearly making shrewd exchange rate calculations before deciding where to holiday. As a result, there is a small degree of solace for the people of Argentina that tourism is set to provide an increasing income, in the midst of the country’s financial difficulties.”

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