Recognised on the tourist map for its diverse landscapes, tango, wine, beef, and football, Argentina has faced challenges in establishing itself as a prominent destination for international travellers. If anything, it has been experiencing a decline in foreign visitors recently. According to Argentina’s statistics institute INDEC, 3,502 foreign tourists arrived in Argentina during the initial four months of 2026. While that represented a 6.5% improvement over the same period in 2025, it indicated a significant decline compared to the corresponding periods in 2024 (-20.5%) and 2023 (-19.3%). Daniel Schteingart stated that “Argentina is one of the few countries in the world that hasn’t managed to grow its tourism exports over the past 15 years.” And “The rest of the world has continued to advance in tourism and attract foreign visitors, while we remain stagnant.” He added “Countries that used to be behind us, like Colombia, are now ahead.” Laura Vernelli stated that “the most important relative price for whether foreigners come in or not is the real exchange rate” — in other words, the price of the dollar. “The moments when the real exchange rate is cheap are the ones that deter foreign tourism, as it becomes prohibitively expensive for them to stay and live in Argentina,” she stated. She cited the previous year as a case in point, when “very few people were coming from abroad on vacation, while a lot of Argentines were vacationing abroad.”
Schteingart concurred that “the stretches with an exchange-rate gap and macroeconomic disorder” served as a constraint on the sector. “It deters Europeans and North Americans to some extent; it complicates their lives.” He observed that those same stretches attracted tourists from neighbouring countries, “because they take advantage of the exchange-rate edge.” In fact, he stated, “the opposite is happening now.” He said “Total tourism is below 2023 levels, mostly because foreign tourism from the region dropped sharply — Argentina is more expensive in dollars — but longer-haul tourism is growing, which is a different kind of demand, a bit more premium.” Roberto Amengual informed that while “Argentina used to depend heavily on the exchange rate to generate quick demand, for some time now other factors have helped generate a different kind of demand.” He highlighted the increase in sporting events and concerts featuring both local and international artists, which has “generated a lot of demand in Buenos Aires and the rest of the country,” particularly since “international concerts don’t go to Chile, Uruguay or Paraguay.” Amengual said “They create demand in those nations where tourists from adjacent countries previously visited solely for the purpose of purchasing inexpensive goods. That’s not happening as much anymore, but you’re seeing more of the segment that comes to catch an event,” He also highlighted the significance of food tourism, noting that both Mendoza and Buenos Aires are included in the Michelin Guide. “It represents a significant attraction for global tourism.”
The hotel executive stated “We’re one of the few countries in the region that have it, and we have a high share of Michelin Guide restaurants.” He also highlighted the increase in tourism from Asia. “Demand from Chinese tourism coming into Argentina has doubled in the past year, necessitating an adjustment process regarding breakfast, service, courtesies, and cultural understanding.” Schteingart emphasised that Argentina ranks “among the five countries with the most climate diversity in the world,” presenting it with “huge potential for nature tourism, which is heavily underused.” He stated “There are incredible places in Argentina with major tourism potential that haven’t been developed yet: from the yungas in Salta and Jujuy, to Catamarca province, the Iberá wetlands in Corrientes, the impenetrable Chaco, the Bañado La Estrella in Formosa — and Patagonia itself can still grow more.” He stated that “there are some policies that should be explored” to encourage tourism routes. For instance, “instead of Aerolíneas Argentinas operating the Buenos Aires-Punta Cana route, which caters solely to outbound tourism, it could consider establishing a São Paulo-Ushuaia connection.” Vernelli expressed a more cautious outlook: “The policies on promotion, restoration, routes and all that do matter, but no matter how good are the city, the wine or the hotels, if it’s too expensive for those people, they’re not going to come.”
Amengual expressed concerns, stating that “the investments are huge and hard to face, because financially they’re very challenging for a normal hotel cash flow.” He stated “If you have to buy air-conditioning equipment for a 150-room hotel, that’s an entire year of profit.” He also stated that “tax reform is clearly needed,” particularly in border regions, where the exchange-rate disparity with neighbouring countries undermines competitiveness — as exemplified by Puerto Iguazú and Foz do Iguaçu, Brazil. “The tax component in Argentina is nearly 70% of the sale, whereas in that location it stands at 30%,” he stated. Finally, he highlighted the necessity for “simplification on the operational side when it comes to meeting municipal, provincial and federal requirements,” noting that “there are so many overlapping departments between the city and the province that they end up issuing regulations on the same thing — and contradicting each other.” He provided a tangible illustration to highlight the absurdity of the situation: “There are regulations in this country that ban carpets in hotels.”