Argentina's Soaring Inflation Drains Tourism Appeal

• Argentina's soaring inflation of 288% threatens tourism revenue as foreigners opt for other destinations • Travel reservations to Argentina from Uruguay down 50% due to currency devaluation and narrowing exchange rate gap • Goods in Argentina no longer a bargain for foreigners after price hikes from ditching controls and devaluation • Spending by foreign visitors could widen $1.2B tourism deficit as wealthy Argentines still travel abroad • Tour sales to Buenos Aires from Uruguay fallen up to 20% as Argentina loses price advantage over Brazil