Uruguayan tourism experts predict a 16% growth in foreign spending this Summer, driven by increased Argentine visitors due to the peso’s recovery. Recent policies have made Uruguay a more attractive destination, reversing spending trends that favored Argentina in previous years. The upcoming season is set to surpass previous figures, with significant traffic already noted at border crossings.
Uruguayan tourism experts anticipate a substantial increase in foreign tourist spending, projecting a 16% growth this Summer, predominantly attributed to an influx of Argentine travelers. The recent recovery of the peso under President Javier Milei’s Libertarian administration is expected to bolster Argentine visits, contrasting with the devaluation of the Brazilian real which hampers Brazilian tourism. Recently, a marked rise in bookings from Argentine nationals has been observed, indicating a recovery trend in Uruguayan tourism that remains unaffected by the Brazilian economic downturn.
In the previous year, Argentines expended approximately $1.2 billion in Argentina, but this trend appears to be shifting favorably towards Uruguay. Additionally, the San Martin International Bridge in Fray Bentos has witnessed significant traffic congestion as thousands of Argentines flock to the country for the holiday season, with 40,000 arriving in the lead-up to Christmas. This surge in visitors highlights Uruguayan destinations as more cost-effective relative to higher rental prices on the Argentine coast, making Uruguay a more attractive vacation option amidst Argentina’s economic challenges.
Furthermore, measures implemented by Uruguayan authorities, such as a complete 100% VAT exemption on food services and car rentals, significantly enhance the appeal of Uruguay to Argentine citizens. In this evolving landscape, some Uruguayan nationals are also projected to visit Brazil to benefit from favorable exchange rates following these fiscal changes. Notably, the abolishment of the 30% PAIS tax on international credit card transactions by the Milei administration has made trips to popular destinations like Punta del Este more accessible.
As a result, the Uruguayan Real Estate Chamber predicts an influx of 400,000 additional tourists compared to last year, which would account for a remarkable 16% increase in tourism-related expenditure during the Summer season.
The article focuses on the anticipated boost in Uruguayan tourism driven primarily by the increase in Argentine visitors, following the Argentine peso’s recovery. The contrasting economic climates of Argentina and Brazil highlight potential shifts in tourist flows, with Argentina facing inflation and increased costs at home. Uruguayan tourism analysts point out the significant potential for revenue growth stemming from attractive vacation options within Uruguay, enhanced by favorable tax policies and market conditions following recent political changes.
In summary, Uruguay is poised for a successful Summer season, bolstered by expectations of increased Argentine tourism. With favorable economic conditions and the implementation of cost-saving measures, Uruguay offers an appealing destination for travelers. The predicted surge in visitor numbers and spending underscores the importance of this demographic to the Uruguayan economy as it seeks to recover from recent challenges.
Original Source: en.mercopress.com
