Good value Argentina (by Joe)
Argentina is not my favourite South American country, but it does offer tremendous value for money.
Returning here from Bolivia we were immediately treated to the finest first-world standards of accommodation, transport, food, drink and services, but at about a third the price you would expect to pay in Europe.
But it's not always been like this. In fact only a few years ago the country was virtually off-limits for all but the wealthiest travellers.
From 1991 - 2001, the Argentinean Peso was held artificially by the Government on an exchange rate of 1:1 against the US Dollar, through something called the 'Convertibility Law'.
However in January 2002 the 1:1 exchange rate could no longer be held, the Convertibility Law broke down, and by the start of February the value of the Peso had collapsed to a rate of 3:1 dollars, where it has remained - more or less - ever since.
Argentinean people are proud, and the crash must have hurt deeply.
It would be difficult to overstate the impact it would have to see the value of your personal wealth crash to a third of what it was, overnight - through absolutely no fault of your own.
It must have hurt all the more to see, at the same time, Argentina's national status tumble from being one of the wealthiest countries in South America - comparable with western European countries - to being one of the cheapest.
Still, just over 5 years on, it's all been good news for us travellers - and with the Pound currently so strong against the Dollar in its own right, Argentina is certainly a very good place for us to be spending money right now.
Joe
Returning here from Bolivia we were immediately treated to the finest first-world standards of accommodation, transport, food, drink and services, but at about a third the price you would expect to pay in Europe.
But it's not always been like this. In fact only a few years ago the country was virtually off-limits for all but the wealthiest travellers.
From 1991 - 2001, the Argentinean Peso was held artificially by the Government on an exchange rate of 1:1 against the US Dollar, through something called the 'Convertibility Law'.
However in January 2002 the 1:1 exchange rate could no longer be held, the Convertibility Law broke down, and by the start of February the value of the Peso had collapsed to a rate of 3:1 dollars, where it has remained - more or less - ever since.
Argentinean people are proud, and the crash must have hurt deeply.
It would be difficult to overstate the impact it would have to see the value of your personal wealth crash to a third of what it was, overnight - through absolutely no fault of your own.
It must have hurt all the more to see, at the same time, Argentina's national status tumble from being one of the wealthiest countries in South America - comparable with western European countries - to being one of the cheapest.
Still, just over 5 years on, it's all been good news for us travellers - and with the Pound currently so strong against the Dollar in its own right, Argentina is certainly a very good place for us to be spending money right now.
Joe
posted by Joe and Laura at 12:23 am
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