Argentina's tourism balance recorded deficit in March

The National Institute of Statistics and Censuses (INDEC) reported that in March 2026, the tourism balance showed a negative saldo of 552,000 tourists. 509,600 foreign visitors entered, up 6.3% from the previous year, while 1.06 million Argentine residents left the country, down 19.9%. The overall negative balance reached 704,800 international visitors.

INDEC detailed that 52.6% of non-resident tourists arrived by air, 34% by land, and 13.3% by fluvial or maritime routes. Main origins were Europe, the United States, and Canada (21.3%), and Brazil (15%). The main motive for 56.7% was vacations or leisure, followed by visits to family or friends (27.1%).

For Argentines, 77% of outbound trips went to neighboring countries: Brazil (38.2%), Uruguay (13.9%), and Chile (13.5%). 49.7% left by plane, 41% by land, and 9.3% by water. 77.6% did so for vacations, and 10.4% to visit family.

Total departures included 1,529,100 residents, of which 1,061,800 were tourists and 467,300 excursionists. According to CEPEC consultancy, in the first quarter of 2026, outbound tourism generated spending of US$1,843.6 million, against US$882 million from inbound, resulting in a net outflow of nearly US$1,000 million.

CEPEC warned that, although inbound tourism is growing, it does not offset Argentine outflows, acting as a significant channel for dollar exits that pressures the balance of payments.

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Illustration depicting Argentina's February economic decline with falling graphs, closed factories, and empty shops in Buenos Aires.
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Economic activity fell 2.6% in February, according to INDEC

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Argentina's monthly economic activity estimator (EMAE) recorded a 2.1% year-over-year drop and a 2.6% seasonally adjusted decline in February 2026, INDEC reported. Manufacturing industry contracted 8.7% and commerce 7.0% year-over-year.

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The Central Bank of the Republic of Argentina (BCRA) purchased US$42 million in the foreign exchange market, extending its streak to 30 consecutive days of currency acquisitions. Gross international reserves reached US$45.158 million, up US$102 million from the previous day. Since the start of the year, the BCRA has added purchases totaling US$2.089 million, including US$932 million in February.

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Argentina's Northeast (NEA) recorded 4.1% inflation in March, the highest in the country per INDEC data, exceeding the national 3.4%. The region has accumulated 11.5% this year, driven by food, services, and utilities. This widens the regional gap with areas like Patagonia at just 2.5%.

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