During the first four months of 2024, Argentines spent USD 2,017 million on trips abroad. The amount represents a decrease of 18% in relation to the USD 2,462 million spent in the same period last year. At the same time, foreigners who visited Argentina in the first quarter They made expenses of USD 962 million61% more than in the same period last year, when they left USD 598 million in the country.
In summary, Argentines spent less abroad than last year and foreigners left more dollars than in 2023. Even so, a deficit of USD 1,055 millionaccording to him current account exchange balance published by the Central Bank (BCRA).
It is important to note that during the first quarter of the year (there is still no data published for the month of April) there was a 4.5% drop in outbound tourism. According to the National Institute of Statistics and Censuses (Indec), between January and March 3,921,800 Argentines left the country, which implied a decrease of 184,600 people. That partly explains why Argentines spent less abroad last season.
Regarding incoming tourism, the most recent data indicate that a growth of 12.3% was recorded in the January-March period. In detail, there were 3,642,200 visitors who entered the country in the first three months of the year, 398,800 more than in the same period last year.
According to the study presented by the BCRA, in April the current exchange account closed with a positive balance of USD 2,277 million. The result was thanks to a balance in favor of USD 2,737 million in the exchange of goodswhich offset the negative balance in services (-USD 183 million) and primary income (USD 290 million).
With specific regard to the part of services, where tourism is contemplated, the result of the month was explained by the net expenses in concept of “Travel, tickets and other card payments” of “Freight and insurance” and “Others” of USD 335 million, USD 74 million and USD 25 million, respectively, partially offset by net revenues from “Professional and Technical Business Services” of USD 251 million.
“It is worth remembering that up to 20% of service exports can be entered into the country through the stock market within the framework of the ‘Export Increase Program’ (PIE). This portion of the income does not appear in the published statistics of the foreign exchange market and exchange balance because no record is made in the Information Regime of Foreign Exchange Operations (RIOC), except for those collections that are received and deposited in local currency accounts. foreign exchange for subsequent settlement in the securities market, which are registered as exchange operations, with no net effect on the exchange market,” the Central Bank clarified.
The Gross income from travel and tickets totaled USD 241 million in Aprilincreasing 62% compared to the same month of the previous year.
For their part, primary income operations represented a net outflow of USD 290 million in April, mainly due to net interest payments of USD 276 million.
Regarding gross interest payments, the “General Government and BCRA” totaled payments of USD 168 million, of which USD 149 million corresponded to interest payments to international organizations (excluding the IMF) and USD 19 million other interest payments. from the government, while the private sector made gross transfers of USD 144 million.
Additionally, gross outflows of profits, dividends and other income abroad amounted to USD 14 million. It should be noted that, starting in May, participation in the BOPREAL subscription was enabled for legal entities that wanted to distribute profits and dividends to non-resident shareholders (a concept for which prior consent is required to make transfers abroad for the majority). part of the operations), USD 1,682 million being subscribed through this mechanism.
Finally, secondary income operations represented a net income of USD 12 million.
