Investing in Argentina
Living in Argentina
The Economy of Argentina
 
the economy of Argentina

Argentina is abundant in natural resources. It is not surprising then that 100 years ago it was one of the world's richest countries. Although it has suffered turbulence in its past, as witnessed in 2001, it has made an impressive rebound with the economy growing an average of 9% in recent years. Argentina enjoys a highly literate labor market and an educated work force. The Argentine economy has been successful in producing and exporting agriculture products to foreign markets. Argentina is particularly strong in the production of soybeans, wheat, peanuts, tea, corn, sunflower seeds and livestock. Major industrial operations include food processing, motor vehicles, textiles, steel and chemicals. In 2007 Argentina had a trade surplus of US $11.1 billion.

Tourism also contributes to the health of the economy in Argentina. According to INDEC, Instito Nacional de Estadistica y Censo, official government figures reported that over 2 million international travelers claimed tourism as their primary objective for visiting Argentina. Between 2001 and 2007 there was a 147% increase in the number of tourists in Argentina; and 2006-2007 showed a 12% increase. In 2006, 323,993 tourists came from the United States, 323,225 came from the UK and 522,951 were European. In 2006 it was reported that 1,001,063 tourists stayed at 4 or 5 star hotels. The average expenditure at these 4 and 5 star hotels was US $1,344.20. The future of Argentine tourism looks bright. The secretary of tourism predicts an accumulated growth of 52% to 100% in tourism between years 2005 and 2016. Tourism is the third largest source of income for Argentina.

The low exchange rate of the Argentine peso to the dollar has allowed exports in Argentina to flourish in the past several years. This also has attracted tourists from around the world to vacation allowing visitors to enjoy goods and services that one would typically pay more for in some other parts of the world.
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