Argentina tourism balance projected to face USD 6 billion deficit in 2026

Argentina's tourism balance is projected to reach a deficit of between USD 5,700 million and USD 6,200 million in 2026, according to estimates from IERAL of the Fundación Mediterránea. While this represents an improvement over the approximately USD 7,200 million deficit recorded in 2025, tourism will continue to be a significant source of net foreign exchange outflow.

The projected deficit is driven by a divergence in travel trends: outbound tourism by Argentine residents is expected to decrease, while inbound tourism from foreign visitors is rising. For 2026, outbound spending is estimated to be between USD 11,000 million and USD 12,000 million. Conversely, inbound tourism is expected to generate between USD 5,300 million and USD 5,800 million, potentially reaching or exceeding historical highs due to increased visitor volume and higher average spending.

Data through July indicates this shift is already underway. Non-resident arrivals to Argentina increased by 9% year-on-year in July, while outbound tourism fell by 17%. During the first seven months of 2026, the number of Argentine travelers vacationing abroad dropped by 14% compared to the same period in 2025, while inbound tourism grew by 8%, bolstered by a 19% increase in air travelers.