Economy in Argentina

Living costs in Argentina compare favorably to those of other South American countries and also those in Central America. Even though the country itself may have a slightly better reputation than the likes of Mexico, Colombia and even Panama, many people may be surprised to learn of the relatively low cost of living in the country. So what does Argentina have to offer?

Argentina economy

Argentina has had a long and troubled history; this turbulent past has had a large impact on the economic current and historical economic status of the country. To understand the now, we need to know the past. Here is a brief summary of the economic past of Argentina.

Before the 1880s, the economy of Argentina was separate from the world and depended on wool and leather as the majority of its foreign exchange. In 1875, the economy started to grow through selling grain and meat on the world market facilitated by French and British investment. The economy expanded rapidly, and the living standards were similar to that of France, Germany, and Canada. However, the income was not distributed evenly.

Historically the political and economic situation in Argentina has been very volatile and a short-term recovery in the 1990s was curtailed by problems at the turn-of-the-century. However, when you appreciate that between 2003 and 2007 the economy of Argentina grew by an average 9% each year the overall picture and the prospects for the future start to become clear. Even though GDP growth fell to around 7% in 2008 it is expected to remain fairly high despite the credit crunch and economic downturn.

The vast majority of the Argentinian economy is based upon export markets which have benefited significantly from a loosening of the regulatory strings by the authorities. International investment in Argentina also continues to grow but international difficulties and disagreements with the likes of the UK, over the Falkland Islands, have cast something of a shadow between Argentinian/UK relations. While this is unlikely to have a medium to long-term impact upon the popularity of Argentina with regards to the expat market, in the short-term, issues such as the Falkland Islands are likely to hit the headlines again.

Property in Argentina

As you would expect from an economy which has increased dramatically, albeit with volatile periods in between, over the last 20 years, there has been a significant increase in the property market. Rents in Argentina have quadrupled over the last 30 years and despite the fact that demand for property fell in and around some of the major cities of Argentina during 2009, prices remained fairly stable. Experts believe that the property market in Argentina will return to the growth path in 2010 and the prospects are as good as they ever have been with economic growth expected to rebound from a 2% fall last year to a 2% rise this year and a 3% rise in 2011.

Living costs in Argentina

The cost of living in Argentina compares very favorably to the vast majority of other developed countries around the world and indeed many countries in South America. A meal for one at a relatively inexpensive restaurant in Argentina will cost you around and a meal for two at a mid-range restaurant in a region of When you also take into account entertainment and the fact that a half liter of local draft beer is yours for just and imported beer around t is not difficult to see the attractions of the country.

Conclusion

Often the political and economic instability of Argentina in the past has tended to cast a shadow over the prosperity which the country is enjoying today. However, those looking towards a new life in South America could do worse than check out Argentina which is well-positioned for the future and offers a relatively low cost of living.

 

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