At this moment Argentina is in crisis, on the edge of default. With inflation above fifty percent per year and currency controls. The Argentinian peso is one of the worst-performing currencies in the world. This affects the Argentinian inhabitants more and more.
Argentina update 28 October 2019
The presidential elections are behind us now. The economic market is at this moment calm due to extra currency controls. On the streets, there are no protests.
There is an exchange limit on Argentinian peso to Dollar or Euro. A maximum of USD 200 per person. Therefore, change your money bit by bit. So, you don’t have too many Argentinian pesos left at the end of your travel.
The evolution of the exchange rate in the upcoming weeks is more interesting. The country can go into a deep crisis and protests can occur. We suggest following this page during your stay in the city. Also, download our app here for last-minute notifications.
The situation in a nutshell
Only this year the Argentinian peso lost 35% of his value against the dollar and euro. Inflation around 50% and the government has problems paying the loans back.
Look out for thieves
We suggest taking care of your belongings. Walk with your bag in front of you, and hold your phone in your pocket. Pickpocketers are more than active in Buenos Aires.
- Don’t use your phone while walking, on the bus or in the subway.
- Don’t put anything in your back pocket of your pants.
- Carry your bag in front of your body.
- Not using your camera? Put it in your bag.
- After sunset, walk in a group and avoid areas such as the train stations.
How does the crisis affect my travel to Buenos Aires?
As a tourist, you will not feel a bit of a crisis because your country’s currency is not involved in the crisis. Hotels, restaurants, and other prices will be cheaper when converting from Argentinian peso to USD or EUR. However, in the touristic sector, the dollar is the standard as a trading currency. Booking in Argentinian peso (ARS) will give you sometimes cheaper prices.
Hard to say but since the crisis, tourism is increasing in Buenos Aires. In general, staying in Buenos Aires is cheaper if you pay in Argentinian peso.
On the street
The crisis is affecting a lot of residents in Buenos Aires. Wages are not increasing as fast as the inflation goes up, but house rental prices, water, gas bills,… are increasing faster than the wages. This means that more people are ending on the street without a roof above their heads. When walking in Buenos Aires you will notice more homeless people.
As you are a guest to Argentina, enjoying its beauty and culture we suggest to don’t ignore the facts of the struggle. You can support the people on the street by giving a peso, don’t forget to tip your waiter at the end of your dinner, leave a tip in your hotel room for the cleaning service, and so on.
Support the local economy
Planning your travel to Buenos Aires is an adventure on its own. Argentinians are more than happy to help you. Therefore, book your nights at a local hotel, enjoy dinner in a local restaurant, book a tour at a local company.
You will get so much more for the same price and get more involved in the Argentinian culture because it’s wonderful! 🙂