December 9

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Buenos Aires Hopes Weak Currency And Digital Nomad Visa Will Attract Remote Workers

By VIKTOR VINCEJ

December 9, 2021


Buenos Aires is trying to use Argentina’s financial crisis as a selling point to attract foreign digital nomads.

Thanks to a recession and 50% inflation, the Argentine peso has plummeted against other currencies. According to a report by Bloomberg, Americans can currently get over 200 pesos per U.S. dollar through “blue dollar” traders, independent currency vendors that offer significantly higher exchange rates than banks and Bureau de Change offices.

That extra buying power means American digital nomads can order lattes at posh cafes for just $1 and have a lavish dinner at the world-renowned Don Julio steakhouse for as little as $18. It also means hotels, apartments and services are ridiculously affordable.

Buenos Aires officials are promoting “the most competitive exchange rate in the region” in a new ad campaign designed to lure American, British and European remote workers to the capital city.

They are also working with the national government to create a visa that will allow foreign remote workers to live and work in Argentina for up to 12 months.

The visa, which could be launched in 2022, would be the first digital nomad visa offered in Latin America.

The government estimates the program could attract up to 22,000 remote workers in 2023.

According to Francisco Resnicoff, the Buenos Aires subsecretary for international relations, the city needs digital nomads to help its tourism industry recover from the pandemic.

“We’re in a different game now than before, and the competition among urban destinations to attract tourists is going to be really tough,” Resnicoff explained. “The city that best understands travelers’ new habits, demands and interests will perform the best.”

VIKTOR VINCEJ

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Content manager of WebWorkTravel magazine

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