Argentina’s record-breaking tourism boom

Argentina continues its surge as a prominent international tourist destination.

The South American nation shattered historical records in 2023 as the average occupancy of international flights surpassed 86% in June, up almost eight percentage points from the previous high in June 2019. Moreover, the nation saw the number of international visitors double, underlining its growing appeal on the global stage.

A changing demographic

Interestingly, the increase in flight occupancy wasn’t the only significant shift observed. Today, Argentina is attracting more foreign tourists than returning Argentine residents, a change mirrored in the composition of international flights. According to the June Inbound Tourism Report, 70% of passengers flying from Atlanta to Argentina were Americans, a substantial increase from 2019’s 44%. A similar pattern was observed with European routes, where the proportion of foreign passengers increased significantly across flights from Frankfurt, France, and even Madrid – a route traditionally favoured by more locals than foreigners.

Economic implications and regional leadership

The recovery of Argentina’s tourism sector reached an impressive 114.3% compared to the pre-pandemic year of 2019. This remarkable comeback positions Argentina as a regional leader in terms of tourism recovery, with Chile, Paraguay and Peru trailing behind. Matías Lammens, Argentina’s Minister of Tourism and Sports, emphasised the crucial role of inbound tourism as a catalyst for the economy, contributing to job creation and the generation of foreign currency. Given the increasing number of foreign tourists, the industry forecasts that tourist expenditure will surpass 3 billion dollars for the first seven months of 2023, providing a significant boost to the local economy.

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