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Roberto
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Username: Admin

Post Number: 656
Registered: 12-2004
Posted on Monday, August 21, 2006 - 9:19 am:   Edit PostPrint Post

Anyone with information please post here...
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Cynthia Edelberg
New member
Username: Morggan

Post Number: 12
Registered: 7-2006
Posted on Saturday, August 19, 2006 - 10:43 pm:   Edit PostPrint Post

Hi,
It's been a while since my first introduction. I have this question today. I have an American friend who is thinking in buying a BUILDING (a whole building) in Buenos Aires for the purpose of renting the units. What do you think of that idea? Buying a building is a good investment? Would it be good for her(she's foreigner...)? Someone pointed her to Barrachas, near Boca neighbourhood. What do you think? I told my friend I would post her questions here and let her know the answers. Thanks in advance!
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Cynthia Edelberg
New member
Username: Morggan

Post Number: 13
Registered: 7-2006
Posted on Monday, August 21, 2006 - 8:55 am:   Edit PostPrint Post

Hi!
Maybe I need to focus my question... Are any of you guys able to give an idea of how good is Barachas neighborhood? Is it the next hype thing or a flaw?
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 111
Registered: 6-2006


Posted on Monday, August 21, 2006 - 9:13 am:   Edit PostPrint Post

Hello Cynthia
I am not familiar with Barachas.
One question is how much is the price. Tell us more about the building. With a little more information maybe someone here can help.
There is a nice office building in downtown Buenos Aires for sale with a solid rental record for thirty five million US. But it is commercial with business offices.
Tell us more about the building.
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Roberto
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Username: Admin

Post Number: 657
Registered: 12-2004
Posted on Monday, August 21, 2006 - 9:29 am:   Edit PostPrint Post

Bob Frassinetti posted information about Barracas in the past. Here is some information. I think -in general- argentines are not used to this type of investments as most people will buy anywhere from a few units to a dozen or so. Buying blocks is more prevalent in the US, I think. So few people may be able to answer your iqnuiry... Mike perhaps.
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Cynthia Edelberg
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Username: Morggan

Post Number: 15
Registered: 7-2006
Posted on Monday, August 21, 2006 - 9:31 am:   Edit PostPrint Post

Hi Tom
That I have no idea. It's a friend's question and for what she said I assume she was just wondering. She is looking for a good investment. She said Barachas (is it Barrachas?) is a southern section, and I remember south was no good. I told her if she has that money (which I know she has) why not buy several properties in Recoleta and rent them to tourists, instead of getting stuck with a whole building... maintenance problems, tenants problems. What do you think is better? Buy a building or buy scattered?
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Cynthia Edelberg
New member
Username: Morggan

Post Number: 16
Registered: 7-2006
Posted on Monday, August 21, 2006 - 9:35 am:   Edit PostPrint Post

I see we were wired by Robert to a new thread. Thanks Robert.
I'll pass her on this information. If anyone else has something to say, I'll be happy to hear too.
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 113
Registered: 6-2006


Posted on Monday, August 21, 2006 - 10:21 am:   Edit PostPrint Post

So Barracas is on the south side of Buenos Aires.
Maybe someone can tell us about the south side of Buenos Aires city.
Here in the states it is common to have certain sections of cities that are better than others.
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Apartmentsba.com
Member
Username: Saint

Post Number: 79
Registered: 5-2005


Posted on Monday, August 21, 2006 - 10:51 am:   Edit PostPrint Post

Buying an entire building can be done but there are very few people that are willing to do that (and that have the money to do that). I've just purchased an entire building for my client in one of the best areas of Recoleta. It was very expensive (several millions of dollars) and we will spend several millions more renovating it. It should be the most luxurious hotel in Buenos Aires when it is done. It is not far from the new Park Hyatt Hotel.

I'm also in the process of buying an entire building in Recoleta. I've made offers to all 30 owners of the apartments in the building to purchase their units but so far I've been buying them piece by piece. I've purchased 7 out of the 30 units so far but plan to purchase the entire building and then convert it into a boutique hotel.

I don't think your friend should be just looking at buying an entire building for the sake of buying an entire building. Look at the net rate of return on the investment via cash flow and also consider the capital appreciation of the property. I'm a big location, location, location buyer so I would NOT buy in Barracas. It just all depends what you are going to do with the property.

Personally, if your friend can, he should try to buy up blocks of a building (individual apartments). The thing you also have to think about is capital appreciation. The building might be $5 million now but what if prices double in 5 years and the building is now worth $10 million. There aren't many people who are buying in those numbers. Always think of your exit strategy. It would be much easier selling individual units vs. an entire building.

Also, other options is just purchasing land and then building your own building. Something that I have done as well. It usually costs less and you can customize it how you want it. Keep in mind it is a LOT of work.

Nothing is easy in Buenos Aires. The real estate industry is extremely complicated. Good luck to you and your friend.

Mike
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 115
Registered: 6-2006


Posted on Monday, August 21, 2006 - 12:24 pm:   Edit PostPrint Post

Recoleta is one of my favorite sections of Bs As. As long as the price is reasonable I don't think she will be making a mistake by buying there.
The real estate business is complicated everywhere.
And the cost of building added to the time frame involved, we are talking island time here, would lead me to opt for an existing building at todays prices. When you build you are looking at cost overruns, overly optimistic completion dates and work stoppages.
I have been buying and selling real property all my life and have never lost money.
Argentina I believe is a safe place to invest. Finding a trustworthy real estated agent is a good start. I know several.
I have two friends who own hotels in Bs As and they tell me business is good.
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Cynthia Edelberg
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Username: Morggan

Post Number: 17
Registered: 7-2006
Posted on Monday, August 21, 2006 - 12:25 pm:   Edit PostPrint Post

Great advice. I agree on every inch. Thanks Apts.ba and you all!
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Apartmentsba.com
Member
Username: Saint

Post Number: 81
Registered: 5-2005


Posted on Thursday, August 24, 2006 - 5:57 pm:   Edit PostPrint Post

Tom is spot on with what he posted in his last post. True real estate is can be complicated "everywhere" but in many first world countries it's more transparent with true MLS (multiple listing systems) and true comparables so you know what people are paying for a given piece of real estate. Not the case here. In fact, you can have the same exact apartment and have 3 realtors with 3 prices for the SAME apartment. I see that all the time.

What Tom said about "island time" is also true. People come to Buenos Aires as a tourist and think it's very European or first world but coming here as a tourist and doing business here are totally different. The time frame involved on seamingly simple things like even ordering furniture take forever here. Things are never done on time and as mentioned, often there are price overruns, work stoppages, etc.

I agree that real estate is a good investment and especially in several cities in South America, especially Buenos Aires.

Yes, the hotels are all doing well. Tourism keeps booming.

This was in the La Nacion last week. (Apologies to those that can't read Spanish.


Domingo 13 de agosto de 2006
Noticias | Información general | Nota
Un sector en auge: es la cuarta industria de la Argentina
Turismo: genera más dinero que las carnes y los cereales

En 2005 produjo ingresos por US$ 3254 millones y este año se espera que esa cifra trepe a los US$ 3700 millones; calculan que en 2006 visitarán el país 4.100.000 extranjeros

Lo llaman el motor silencioso de la economía. Ya es la cuarta industria de la Argentina, por encima de los cereales y la carne, y por debajo de las oleaginosas, el petróleo y la automotriz. En 2005 generó divisas por 3254 millones de dólares y para este año se espera que esa cifra trepe a los US$ 3700 millones, según un reciente informe elaborado por la consultora Ecolatina.

El turismo es uno de los sectores que más desarrollo tuvieron desde la devaluación. A partir de entonces, el ingreso de visitantes extranjeros no deja de crecer. Se estima que este año llegarán más de 4 millones.

Entre el turismo extranjero y el interno, en 2005 la actividad subió 9,7% (medio punto por encima del crecimiento total de la economía), y para este año pronostican que volverá a incrementarse en la misma proporción. Detrás de esta notable evolución se esconden hombres y mujeres que vienen de países lejanos –y no tanto– para conocer las riquezas naturales y culturales que hay por estas latitudes.

El tango, la carne, el clima, la noche, el mate, el fútbol, Caminito, la montaña, el mar, el vino, las mujeres... Todos son motivos válidos para venir a conocer un país que ofrece variedad de paisajes y contrastes. A esto, obviamente, hay que sumarle el factor cambiario: desde la devaluación, venir a la Argentina es barato.

“La actividad turística está en un excelente momento, con un crecimiento sostenido durante los últimos años. La coyuntura económica beneficia este desarrollo con un cambio favorable para el extranjero, que, sumado a los atractivos culturales y naturales hacen del país un destino muy elegido", explicó el secretario de Turismo de la Nación, Enrique Meyer.

Según los últimos registros migratorios aportados por la Secretaría de Turismo de la Nación, en la primera mitad de este año sólo al Aeropuerto Internacional de Ezeiza arribaron 883.380 turistas extranjeros, lo que representa el 11,6% más respecto del mismo período de 2005.

Pero las proyecciones son aún más optimistas. En el informe de Ecolatina, por ejemplo, calculan que hasta diciembre llegarán a la Argentina más de 4 millones de visitantes por vía aérea, terrestre y fluvial (cruceros y ferries). En 2005, según la Secretaría de Turismo de la Nación, vinieron 3.895.396, y en 2004, 3.456.527 turistas.

Los brasileños encabezan el ranking de las llegadas de extranjeros a Ezeiza. El año pasado arribaron a ese aeropuerto 304.914 personas desde las terminales de San Pablo y Río de Janeiro, el 28,1% más que en 2004. Estados Unidos ocupa el segundo lugar, con 250.942 arribos en 2005 (el 24,2% más respecto del año anterior). El podio lo completa Chile, con 212.566 turistas aterrizados el año pasado. Aquí el crecimiento en comparación con 2004 fue del 12,7 por ciento.

Por sobre el promedio

"La actividad turística ha tenido una recuperación notable desde la devaluación del peso, por encima del promedio de la economía. En una primera etapa el motor del crecimiento fue la afluencia de extranjeros. A partir de la recomposición de los ingresos el turismo nacional cobró cierta relevancia, pero el componente externo aún continúa siendo el de mayor gravitación", explicó Rodrigo Alvarez, de Ecolatina.

Es que mientras el gasto medio de un turista argentino en la ciudad de Buenos Aires es de $ 167, el de un foráneo casi lo triplica: $ 463. Y en el resto del país, la plata gastada por un extranjero es de $ 215 pesos. En todos los casos se incluye alojamiento, comidas, salidas y compras, la gran debilidad a la que sucumben muchos de los visitantes que llegan al país.

El "deme dos", tan característico de los argentinos en otras épocas, ahora es imitado por brasileños, norteamericanos y europeos. La calidad y originalidad del diseño argentino, más el cambio favorable, que convierte a Buenos Aires en una de las ciudades más baratas del mundo según el último ranking elaborado por la Unión de Bancos Suizos (UBS), es lo que impulsa a los turistas a usar la tarjeta de crédito hasta gastarla.

"Dejamos todos los dólares aquí", reconoce Zenilda Linares, una venezolana que caminaba por el empedrado, irregular y centenario, de la legendaria Caminito. La extraña mezcla de arrabal y barrio fashion la dejó sin aliento. "Esto es realmente muy bello", dice, al tiempo que destaca el servicio y la cordialidad de los argentinos.

La ciudad de Buenos Aires es el punto más visitado por los turistas foráneos. Luego, las preferencias varían de un año a otro, pero podría establecerse un ranking sobre la base del total de pernoctaciones anuales. En primer lugar, dijimos, Buenos Aires; le siguen la costa atlántica, Córdoba, Bariloche, Ushuaia y El Calafate, Mendoza, Salta y Jujuy, las cataratas del Iguazú y Puerto Madryn.

Las primas Susan y Nicole Disch llegaron de Alemania y ya conocieron algunos de los puntos más visitados del país. "Hace unos días estuvimos en la cataratas del Iguazú y ahora nos vamos a conocer la Patagonia", dicen al unísono, encantadas con el tibio sol del invierno y la música de tango que lo invade todo.

En cambio, Janick Thérèse, una francesa que está por terminar su estada de 21 días, conoció Cafayate y la Quebrada de Humahuaca, a los que definió con una sola palabra: " Fantastiques ". A pesar de su prolongada visita, ya está planeando volver para conocer el Sur. "¡Tres semanas es muy poco tiempo!", dice lamentándose.

Inversiones récord

Semejante oleada de extranjeros también atrajo una oleada de inversiones, sobre todo en hotelería de lujo. En la Secretaría de Turismo sostienen que el dinero destinado a este sector rondará, en 2006, los 1800 millones de pesos, algo que ya promete convertirse en récord.

A los numerosos hoteles cinco estrellas que funcionan en la ciudad -el más reciente es el Palacio Duhau Park Hyatt, inaugurado hace un mes- se sumarán en el corto plazo otros cinco. Las habitaciones más económicas no bajan de los 500 dólares per night (wouldn't let me put noche) y, según estimaciones, tienen una ocupación promedio del 75 por ciento.

"El actual es un escenario atractivo para los inversionistas porque pagan sueldos en pesos y cobran tarifas en dólares. El turístico es un sector que tiene mucho potencial. La mayor parte del dinero se destina a la hotelería, pero falta invertir en servicios complementarios como medios de transporte y servicios. Es decir, todavía queda mucho por hacer", opinó Alvarez.

Por Laura Reina
De la Redacción de LA NACION

Also, this was in the Clarin this week.

http://www.clarin.com/diario/2006/08/23/um/m-01257 875.htm

As I predicted a few years ago, I don't see tourism slowing down. I see it increasing even more and I see hotels as a viable business for several years to come. Good luck all.
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Gustavo Flores
Junior Member
Username: Xgustax

Post Number: 30
Registered: 6-2006
Posted on Thursday, August 24, 2006 - 7:06 pm:   Edit PostPrint Post

Then you are quiet mistaken for thinking the peso will remain the way it is now. The Argentine Peso is heading and already has been heading to a 1:1 exchange rate. The ONLY thing keeping it from raising it is the government.(by flooding the market with the peso they keep the peso value lower). They purpursly do so the keep local business's stronger. So I would def. apect the peso to raise because the government eventually will have to.
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Apartmentsba.com
Member
Username: Saint

Post Number: 82
Registered: 5-2005


Posted on Thursday, August 24, 2006 - 7:18 pm:   Edit PostPrint Post

Gustavo,

No one is saying that the peso might stregthen in the future. What I am saying is that it will NEVER go back to 1:1 and I would be willing to wager ANY amount of money on that.

Yes, the government is buying u$s dollars and for good reason. The export market is very important. The peso gets too strong and no one buys products from Argentina.

Any one that thinks it will go back 1:1 is living in a fantasy land.
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Gustavo Flores
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Username: Xgustax

Post Number: 31
Registered: 6-2006
Posted on Friday, August 25, 2006 - 2:42 am:   Edit PostPrint Post

Really You are quiet mistaken then. I was reading an article about how eventually because of investment the government will have to stop suppressing the Peso. even as the Ex patriot puts it we can expect the peso not to go back up to a 1:1 for about another decade.
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Roberto
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Username: Admin

Post Number: 662
Registered: 12-2004
Posted on Friday, August 25, 2006 - 5:52 am:   Edit PostPrint Post

To have a 1:1 would mean that the argentine economy or if you want, the country as a whole, is roughly equivalent to what the US is in terms of relative prices (where 1 bedroom apts may go for 1/2 mill). Something that does not hold any water unless Argentina -like the Bahamas- is flooded with foreign money coming from tourism or 'strange' offshore finances. On the other hand a 3:1 may also appear artificial as these days there are external factors that reinforce the local economy.

But this is just a layman's point of view.
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Gustavo Flores
Junior Member
Username: Xgustax

Post Number: 32
Registered: 6-2006
Posted on Friday, August 25, 2006 - 12:48 pm:   Edit PostPrint Post

And what about Europe that gets more tourism then any other reigion in the world inst the Euro worth more than the dollar. So I believe that eventually it will raise again. I am not the only one who thinks this also...Your right though it is articfical because right now the Argentine Peso should be much higher but the government is keeping it down.
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 118
Registered: 6-2006


Posted on Friday, August 25, 2006 - 3:05 pm:   Edit PostPrint Post

The Argentine goverenment does not suppress the peso.
At least that is what I am told by a high official in Kirchners cabinet.
The world currency market sets the exchange rate and has no reason to suppress the value of the peso.
By floating the peso against world curriencies the peso is where it should be in the world economy.
When the peso was 1 to 1 against the dollar the price of Argentine goods was more expensive for other countries to buy.
The balance of payments deficit of the US is a result of the products made in the US being too expensive for other countries to buy(cost of production), the government subsidies to farming, artificial exchange rates with China in particular, high tarriffs and other factors.

China has an artificial exchange rate around 7 Yaun to 1 US dolalr that keeps their products prices lower than if the Chineese currency was free floating. They do not want a 1 to 1 exchange rate for sure. The US government wants the Chineese to float their currancy. If that happens Chineese goods will go up in price and it will be more expensive for US citizens to buy Chineese products so they might buy the same product made in the US. Simplistic,yes, but an example.

Tourism was and I think still is the fastest growing industry in the world. Reading the article posted by Apartmentsba confirms that growth in Argentina. I translated the article on http://babelfish.altavista.com/tr

Apartmentsba, a question por favor...
In the article, 5th paragraph first line, what does the term "el mate" mean? In altavista it translated to "kills". I can only hope that means something less sinister.

Another example. I am an Argentine businessman and I can buy widgets from only two sources, the US or Europe. If shipping costs the same the price of a widget in the us is 10 dollars and the cost of the widget from Europe is 10 Euros, who am I going to buy from?

3 to 1 means US citizens will come to Argentina and spend dollars which helps the local economy as will Europeans with their exchange rate, etc., because of the bargains. The Euro causes US citizens to look elsewhere for their vacation destinations. The same goes for Europeans with their Euros.

3 to 1 is a good stable rate that gives certainty to trade and tourisim. I do business in Argentina and it is good for me and I think good for Argentine citizens. They have a huge market for their export goods.

The US buys more Argentine goods than any other country other than Brazil.
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 119
Registered: 6-2006


Posted on Friday, August 25, 2006 - 3:26 pm:   Edit PostPrint Post

North Americans are said to be the most generous people in the world when it comes to tipping. Ask European waiters and bartenders who will tell you US citizens tip better than Europeans. The standard rate for a tip in the US is 15% with many tipping 20% which, for me, is easier to calculate. Most everyone I know tips 20%. Tipping helps the employee. Would you rather be tipped five dollars or five pesos. If they were one to one it would be no difference. But at the current exchange rate you get 15 to 5.

A steak in a standard restaurant in the US is going to be around ten dollars. I can show you a lot of nice restaurants where the the same quality steak sells for ten pesos in Argentina.

I know of a very nice restaurant in Bs As that sells a delicious and tender steak by the kilo for 29 pesos. A kilo is 2.2 pounds or around 35.2 ounces. A steak in a US restaurant will average around 8 ounces and priced at about US $10. A kilo steak would make more than four 8 ounce steaks. The kilo steak in the Argentine restaurant I speak of would divided up would cost more than $40 US dollars in the US. That is at a run of the mill restaurant. The Argentine restaurant Aquellos Anos(there is a squigally line above the n) is not a run of the mill restaurant. A similiar high quality restaurant in the US would sell the same amount of steak I estimate at over a $120 dollars.

The local costs of food, housing, fuel, education, medical care, etc are the things one must consider when looking at what the value of their money is. How much it buys on the local economy. Argentina produces so much and has vast natural resources that supports a very small population. The world is the place to sell the goods and as long as the price is low, the market will be large.

3 to 1 is a good exchange rate, it is good for US and Argentine business. I hope it stays that way.
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Apartmentsba.com
Member
Username: Saint

Post Number: 83
Registered: 5-2005


Posted on Friday, August 25, 2006 - 4:20 pm:   Edit PostPrint Post

Again, I'll say it again. The exchange rate will NEVER go 1:1 in Argentina against the dollar. I'm not sure why some people insist that it will. Again, you are living in a dream world if you think it will go back 1:1.

Since 2002, I've accurately called the exchange rate (exactly in the trading range I predicted between 2.75 - 3.25), real estate trends and tourism trends. I stand my all my predictions.

I'm not saying it will stay 3:1 but as I mentioned, it will never go 1:1 again. The exchange rate in Argentina should have NEVER been 1:1 in the first place and it will never trade in that level again.

Market forces prevail in any economy. The market has been telling us that a range in what I predicted back in 2002 (2.75 to 3.25) is a good trading range and Argentina has prospered while trading in that level.

Tom - what the article is saying in that paragraph is "the tango, meat, the weather, the night life, and 'mate' (which is a tea like drink that is popular here in Argentina and Uruguay). Nothing sinister as you thought... all of these things and more are the reasons for tourists to come to Argentina....

I predict that tourism will continue to grow. It's a very important industry now for Argentina that brings in BILLIONS of dollars into the economy. No way the government will let that disappear now. At an exchange rate of 1:1 as some are dreaming that will return.... Argentina will get ZERO tourism dollars. Who would come to Argentina and spend these kind of dollars on things from dining out to taxis to shopping??? Argentina would have no exports.

Good luck all.
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Gustavo Flores
Junior Member
Username: Xgustax

Post Number: 33
Registered: 6-2006
Posted on Friday, August 25, 2006 - 4:21 pm:   Edit PostPrint Post

Yes the government is supressing the Peso to keep local business high. They do this by over printing Argentine Pesos and flooding the market with more Pesos then Dollars this in turn lowers the value of the Argentine Peso. However the government can not keep on doing this and this will cause the peso to become a 1:1 exchange rate eventually. What you are talking about though is just the basics there are more things evoloved. Read this article for more information: http://expat-argentina.blogspot.com/2006/05/underv alued-peso.html

Yes so the Peso needs to rise simple as that or else Inflation becomes too high.

I hope this helps

Gustav
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 120
Registered: 6-2006


Posted on Friday, August 25, 2006 - 5:00 pm:   Edit PostPrint Post

Gustavo
A question por favor. Where did you get the information that Europe gets more tourism than any other place in the world. I am not disputing that considering the number of people in Europe and its size. Add to that the relatively short work week of the average European citizen, at least in western Europe.

When you think of the population of Europe and the size of the countries therein, foreign tourism could come from a block away.

Statistics can be deceiving.

A Luxembourg tourist does not have to travel very far to be in a foriegn country. From my home in south Buenos Aires province to be in a foriegn country I have to go a long way. I travel six hundred fifty kilometers and I am still in Argentina, from that point, the city of Buenos Aires, I would still have to cross the Rio de la Plata to get to a foriegn country.
Also, one does not have to be a foreigner to be a tourist. A person living in Tampa Florida who takes a vacation in Orlando Florida, about sixty miles/100 kilometers away, is a tourist none the less.

*The north American Continent Size:
24,474,000 sq km or 9,449,460 sq miles
Percent of Earth's Land: 16.5%
with a population of 501,500,000

The European Continent Size:
9,938,000 sq km or 3,837,081 sq miles
Percent of Earth's Land: 6.7%
Population: 727,000,000

South America Continent Size:
17,819,000 sq km or 6,879,000 sq miles
Percent of Earth's Land: 12%
Population: 379,500,000

The European tourist comes from almost twice the population of that of South America with a land mass that is a little over half the size of South America.

A whole lot more tourist traveling in a much smaller area.

When you consider that about half of the continent of Europe is European Russia even though it does not use the Euro as its currency, you can still see the illusion.

The European tourst, chances are he gets paid in the same currency at home as the currency used in the country he is vacationing in, the Euro.

*see http://go.hrw.com/atlas/norm_htm/world.htm
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Gustavo Flores
Junior Member
Username: Xgustax

Post Number: 34
Registered: 6-2006
Posted on Friday, August 25, 2006 - 5:22 pm:   Edit PostPrint Post

Sure here it is http://www.aneki.com/visited.html , out of the top 15 countries most visited 10 of them are in Europe.
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 121
Registered: 6-2006


Posted on Friday, August 25, 2006 - 5:34 pm:   Edit PostPrint Post

Thanks Apartmentsba, I was smilling when I asked that question.
Sometimes the translator is way off.

Gustavo, I tried to read that blog page but I got a message that said it could not be found. Why not copy the blog and post it here if you like.

The monetary thinkers in Argentina I think know that if they flood the economy with pesos that it will only cause more inflation.

How will putting more pesos out there raise the exchange rate to 1 to 1. Even if there were an equal number of Argentine pesos in the world as there were dollars, it would still not be a 1 to 1 exchange rate.
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Apartmentsba.com
Member
Username: Saint

Post Number: 84
Registered: 5-2005


Posted on Friday, August 25, 2006 - 5:56 pm:   Edit PostPrint Post

Hi Tom,

Yeah...sometimes the translators are way way off but it's good for a good laugh sometimes. :-)

The link to the website is http://expat-argentina.blogspot.com/

I routinely post on that site and it's a good source of information. The creator/owner of that site is a sharp guy and actually is a client of mine. He lives here in Argentina as well and is an American that moved here like I did. I always see eye to eye with him on most issues.

Gustavo - I don't think people are arguing with you that the peso won't stay at 3:1 forever. What I (along with some others) are saying is that it won't move 1:1.

I really have never been one to put too much faith in what the so called "experts" think. Most of them were wrong on Argentina. In the days of 1:1 I could see that the system was going to crash and 1:1 wasn't going to stay like that for too much longer.

I would focus more on what people that have quite a bit of experience in Argentina have to say about things like Roberto, the owner of this page.

An Argentina with 1:1 isn't good for anyone and it won't happen.
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Tom Woodson
Intermediate Member
Username: Diverdown48

Post Number: 123
Registered: 6-2006


Posted on Friday, August 25, 2006 - 6:24 pm:   Edit PostPrint Post

Thanks for the web site Gustavo, a lot of interesting statistics.

One interesting one is Most Expensive Countries to Live in ranked Argentina as 9 and the US as 13th. I know we have less expensive electronics but the food isn't. That is based on amount of in country income versus cost of living I am sure.

http://www.aneki.com/expensive.html

I will check out the blog site you posted Apts, if I may call you that Apartmentsba unless you prefer St.

This to me is a learning place and I appreciate the imput from all.
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Apartmentsba.com
Member
Username: Saint

Post Number: 86
Registered: 5-2005


Posted on Friday, August 25, 2006 - 6:37 pm:   Edit PostPrint Post

Tom,

Actually that website you mentioned is old. Argentina WAS formally one of the most expensive places to live and to visit before the crash. That is my point about it being in the 1:1 days.

Look at any cost of living polls that are updated. Here is a good link below for 2006

http://www.finfacts.com/costofliving.htm


You will see that Buenos Aires is one of the cheapest major cities in the world to live in. It ranks 142 out of 144.

Cheers.
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Gustavo Flores
Junior Member
Username: Xgustax

Post Number: 35
Registered: 6-2006
Posted on Friday, August 25, 2006 - 6:43 pm:   Edit PostPrint Post

Why wouldnt it be good for the Argentines? Of course a 1:1 exchange ratio would be better for Argentines. lets not be joking our selves now Argentina has never relied on Tourism to make the bulk of its wealth. Even when it was the 5th richest country in the world do you honestly think it was for Tourism. Nooo! Anyways here is the site again: http://expat-argentina.blogspot.com/2006/05/undervalued-peso.html should work this time tried it. He even pridicts althought he says it might take a while that the Peso will have to go up because right now there are more exports than imports...(read on)

Tom I was talking about how the governments strategy has a flaw which is explained in the article. the problem with flooding the market with too many Argentine Pesos is Inflation and the government doesnt get as much interest back for buying all the dollars up. So it can not coutinue forever in fact he even says the peso is vauled right now if it was not for the governemnt at about 1.8- 2.4. This is the vaule people predict its at without government intervention.

Again ApartmentsBA the Euro is worth more the Dollar and Europe is the most traveled to destination in the world. So I do not see your point very well.

Hope this helps

Gustav

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