South American Real Estate News

Investment opportunities available in tourism in Argentina

Post available in: English

Tourism is one of the world’s largest industries, particularly in terms of employment. This industry generates one out of every 11 jobs in the world, represents 10% of gross domestic product (GDP) worldwide, and 7% of exports, according to the World Tourism Organization. International arrivals around the world grew from 25 million in 1950 to more than one billion in the last few years, a period during which arrivals in developing countries exceeded those in developed countries.

Recent experiences in Argentina

Between 2003 and 2010, the government of the province of Salta implemented a series of interventions to generate a structural change in the tourism industry and create jobs after Argentina’s economic crisis in 2001. These investments required a high degree of coordination and collaborative frameworks to foster public-private partnerships (PPPs). The initiative was also supported by a loan from the Inter-American Development Bank (IDB) Group.

The Tourism Development Policy (PDT, by its Spanish acronym) was based on three pillars:

i) construction and modernization of the transportation and tourism infrastructure;

ii) tax incentives for the construction, expansion, and remodeling of hotels and other types of lodging; and

iii) institutional strengthening of tourism entities and a comprehensive and sustained national and international advertising campaign.

Given the success of early private investment partnerships, the Argentine Government is looking to further expand these private sector investments to increase tourism within the country.

They have already upgraded the majority of there airports and opened the skies to new airline operators.

Please contact the Argentinean Embassy direct to discuss.

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Post available in: English


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