Uruguayan tourism analysts expect a 16% boost in spending from foreign travelers this summer, particularly from Argentine tourists. The economic recovery of the Argentine peso and the attractiveness of Uruguay’s pricing and tax incentives are anticipated to drive this increase, contrasting with Brazil’s recent economic turmoil. The influx of travelers is reflected in increased bookings and border crossings, signaling a significant reversal in tourism dynamics in the region.
Uruguayan tourism experts forecast a promising 16% increase in spending from international travelers during the upcoming summer season, buoyed by a rise in Argentine visitors. This boost is attributed to the Argentine peso’s strengthening against the US dollar following the economic reforms of President Javier Milei’s Libertarian administration. In stark contrast, Brazil’s economic crisis, marked by a devaluation of the real, appears to deter Brazilian tourists from visiting Uruguay.
There has already been a notable surge in bookings from Argentine tourists, suggesting a recovery in tourism activity despite Brazil’s economic challenges. In the previous year, the trend saw Uruguayans spending approximately US$ 1.2 billion in Argentina, yet analysts predict an inversion of this pattern as many Argentines now opt for vacations in Uruguay. The San Martin International Bridge in Fray Bentos has witnessed significant traffic, reflecting the influx of Argentine visitors seeking leisure, particularly around the Christmas period, where around 40,000 Argentines and 9,000 Brazilians crossed into Uruguay.
Uruguay’s appealing pricing for accommodation and services relative to those in Argentina has further solidified its attractiveness for Argentine tourists. Many Uruguayan citizens are also rethinking their shopping trips to Argentina due to the economic landscape in their own country, leading to an increased inclination to vacation domestically. Additionally, the Uruguayan government has introduced tax advantages for Argentine tourists, including a complete VAT exemption for food and car rentals, enhancing Uruguay’s appeal.
The evolving economic landscape under President Milei, which has eliminated the 30% tax on international credit card purchases, has made excursions to places like Punta del Este more financially accessible. In optimistic anticipation, the Uruguayan Real Estate Chamber projects an increase of approximately 400,000 tourists compared to the previous year, indicating a significant growth in tourism spending in the forthcoming season.
The tourism sector in Uruguay has been shaped by various economic factors, notably the financial situations in neighboring countries, especially Argentina and Brazil. Historically, Argentina has been a significant source of tourists for Uruguay; however, recent economic reforms and currency fluctuations have altered travel trends. The reduction of travel costs and the introduction of favorable taxation for foreign visitors are strategic moves aimed at attracting more tourists during the important summer season, indicating a competitive approach within the region’s tourism market.
In summary, Uruguay is set to benefit significantly from the influx of Argentine tourists this summer, thanks to favorable economic conditions and strategic initiatives that enhance the attractiveness of its destinations. The anticipated 16% increase in spending from international visitors highlights the potential for a strong recovery in the tourism sector, particularly as Uruguay aims to capitalize on the shifting travel patterns following Argentina’s recent currency stabilization and economic policy changes.
Original Source: en.mercopress.com
