For the tenth consecutive month, the foreign exchange deficit of international tourism declined in February

The International Tourism Survey of Indec recorded in February the eighth consecutive month of increase in the arrival of foreigners in the country, mainly for entertainment and leisure purposes, while on the contrary, the ninth month followed the departure of the residents.

Clearly, the sharp correction of the exchange rate compared to the previous year, at a rate well above the rate of inflation, determined that the ability of foreigners to buy was strengthened; while, on the other hand, the devaluation of the peso, combined with the contraction of economic activity, affected the real income of the inhabitants and even more its power to spend abroad.

The joint investigation by INDEC and the Ministry of Tourism made it possible to obtain second month of the year, 18.8% increase in the entry of foreigners; while resident production decreased by 15.7%. In figures, the balance of the month was negative because of the entry of 232,800 pbadengers living in the rest of the world, while the locals who left the international airports totaled 408,300 people.

It was a negative balance that has been reduced by more than 113,000 people compared to the previous yearwhen the dollar lagged behind, according to the consensus of economists, and the maximum point of the cycle of national economic activity pushed emissive tourism, while it did not favor the entry of foreigners for purposes of relaxation.

The The first two months resulted in a 56.7% reduction in the negative balance between revenues and expensesdue to the 22.8% increase in admissions to 572,000 people and the 18% drop in resident departures to 785,000 travelers.

In line with these movements, the Central Bank's foreign exchange balance in February showed a drastic reduction in the foreign exchange deficit attributable to international tourism, rising from the equivalent of more than 12,000 million USD in February 2018 to less than $ 6,000 million. one year later

The monetary authority recorded revenues from international travel packages and foreign currency sales of $ 208.8 million, while outflows by residents amounted to $ 676.5 million.

The two months ended with a negative balance of $ 1,118.6 million, lower than the deficit of $ 2,368.9 million from the same period of the previous year.