ARGENTINA

Steaks. Football. Inflation.

These are often the first words that come to mind when people think of Argentina.

Argentinians are known for their infectious passion, which permeates every aspect of life in the country. From the spirited rhythms of tango to the fervor surrounding football matches, their enthusiasm is palpable. You’ll find that conversations often burst with emotion, when discussing politics, football or other mundane topics.

Argentina is a land of contrasts. In the early 20th century, the country symbolized prosperity, leading to the saying “¡Il est riche comme un Argentin!” (“Rich like an Argentine”). Today, you can still see echoes of this affluence in Buenos Aires, often called the “Paris of South America,” with its stunning European-style architecture, including landmarks like the iconic Teatro Colón and the majestic Palacio Barolo.  

While inflation has decreased under the new government, it continues to be rampant and impacts daily life for many people. In previous years, tourists enjoyed a favorable peso-to-dollar exchange rate. This meant that even though prices were rising, travelers could exchange their foreign currency for pesos at a rate that kept pace with these increases.

However, the past year has seen a stabilization in the exchange rate, while costs for goods and services continue to rise, making travel a bit more expensive. The “dólar blue” phenomenon persists, with informal currency exchanges in informal markets (or ‘cuevas’) often offering better rates than official banks. As of 2024, however, a new system provides a more favorable rate for foreign travelers using credit or debit cards, reducing the need for cash exchanges.