Despite inbound tourism growth, sector continues to drain country coffers

Argentina's tourism sector continues to drain the country's coffers, despite a surge in inbound travel. According to official data from INDEC, the number of nonresident tourists arriving in Argentina rose 9% in July 2025 compared to the same period in 2025, while outbound tourism fell 17%. During the first seven months of 2026, the number of Argentine travelers vacationing abroad fell 14% year-over-year.

However, inbound tourism grew 8% during the same period, driven primarily by a 19% increase in international air arrivals. As of now, 3.4 million nonresident tourists have visited Argentina, while 7.1 million Argentine residents have traveled abroad, resulting in a tourism deficit. Fundación Mediterránea estimates that this deficit could reach between US$5.7 billion and US$6.2 billion this year, compared to a negative balance of around US$7.2 billion in 2025.

While the goods trade balance has offset part of the deficit, the tourism industry's structural issues remain. The sector's competitiveness could be improved through infrastructure upgrades, border crossing improvements, and credit access, but the Argentine peso's appreciation due to President Javier Milei's economic policies poses a challenge, as it makes goods and services more expensive for foreign tourists.