Travel and Tourism in Argentina - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-25 03:56:04
Tourism balance in Argentina during 2012 showed negative figures, with the worst result of the decade 2002-2012 as a consequence of exchange rate appreciation and despite federally mandated exchange market controls and tax regulations to make purchases abroad more expensive in order to discourage outbound tourism. Incoming tourism flows declined, outbound tourism flows grew whilst incoming tourist expenditures grew, but were less than Argentinean expenditures abroad.
The federal government boosted domestic tourism through the creation of new public holidays along the year. Whilst in 2009 there were 12 public holidays, in 2012 there were 19 public holidays and some of them that fell on working days were moved to Mondays or Fridays in order to create 11 long weekends in the year.
Whilst traditional domestic tourism cities benefited from this policy, other cities and other industries (production and agricultural sectors, for example) questioned this measure.
As hotels have been negatively affected by increasing operational costs and lower demand due to the loss of exchange rate competitiveness, many investors looking for options to preserve the value of their savings have been investing in constructing and managing self-catering apartments that they can rent. The domestic tourism boom in the country, which was sustained in 2012, boosts self-catering travel accommodation demand. Lack of legislation regarding self-catering apartments and federal government capital flow controls (that discourage foreign investments in the country) are the most important issues behind the growth.
Aerolineas Argentinas received federal financing since its expropriation in July 2008. Each year the company has been demanding more resources and in 2012 it reached a new record despite huge air tariff increases authorised by the federal government and growing numbers of passengers carried in domestic flights.
E-Commerce saw astonishing growth rates in the past three years of the 2007-2012 review period in Argentina helped by increasing internet access; in 2012 the country was living a sales boom of smartphones and tablets and according to specialised research Argentines are heavy users of social networks. But m-commerce is not capturing e-commerce growth yet. High penetration of smartphones and the success of social media have opened up new opportunities for travel players that would have to integrate them in their strategies and business models in order to benefit from the increasing share of business generated by the new mobile and social consumers.
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