And in contrast, this week both Chile and Peru reported increases in the arrival of foreign travelers so far this year.

Due to macroeconomic factors and government interventions in the exchange rate, tourism figures in Argentina have been plummeting for months.

And in contrast, this week both Chile and Peru reported increases in the arrival of foreign travelers so far in 2024.

In the first country, for example, 4,085,940 international tourists have entered, which represents an increase of 38.8% compared to 2023 and 7.7% more than in 2019.

Argentina continued to be the main source market for tourists. Trans-Andean tourists constantly cross the Andes in order to make purchases, at prices that are more convenient for them.

In Peru, meanwhile, the government reported that it received 2,720,719 tourists between January and October, which represented a growth of 34.1% compared to the same period last year.

This increase was led by Chilean visitors, followed by those from the United States, Ecuador, Brazil, Bolivia and Colombia.

VISITS BY FOREIGNERS TO ARGENTINA FELL 36.6% YEAR-ON-YEAR

The number of foreigners visiting Argentina last October fell by 36.6% year-on-year, to 754,900 people.

The National Institute of Statistics and Census of the South American country (Indec) indicated that the 414,100 tourists who entered Argentina in the tenth month of the year represented a decrease of 30.3% compared to the same period in 2023.

Inbound tourism came mainly from Argentina's neighbouring countries such as Brazil (23%) and Uruguay (17.7%).

"HIKERS"

In October, 340,800 foreigners also arrived in the neighboring country without spending a night in its territory, a phenomenon that is concentrated in border cities or on day visits to Buenos Aires by air, land or river.

The number of so-called hikers fell by 42.8% compared to October 2023.

The drop in the number of non-resident visitors to Argentina is related to an exchange rate that is no longer favorable to foreigners as it was in 2023.

As for data on outbound tourism, the Indec report states that in October some 1,124,400 residents left the South American country - 38.2% more than a year ago - of which 654,100 were tourists and 470,300 were excursionists.

The increase is also related to exchange rate issues, given that the official dollar rate in Argentina has lagged behind inflation, making traveling abroad cheaper for Argentines than in 2023, in relative terms.

The main destinations for Argentines abroad during October were Chile (23.4%) and Brazil (18.4%).