Argentina Tourism Booming, to Grow by 10% Annually Until 2020

LONDON, September 22, 2010 /PRNewswire/ -- During the official launch of the Argentina government plan to promote inward investment in the tourism industry, the Minister of Tourism Enrique Meyer announced that British Airways will start non-stop flights between London and Buenos Aires in March 2011.

At a select lunch in London for international investors from the UK, Europe, the Middle East and India, the Minister announced, "2011 will be the year of Argentina." CEOs of real estate and hospitality conglomerates and investment funds and private equity directors participated in the launch, during which British company Ready to Invest announced its US$ 300 million wine and lifestyle development in Tupungato (Mendoza). Other projects will be announced soon.

Explaining the Federal Plan for Sustainable Tourism, Minister Meyer announced significant investment in tourism infrastructure and training. "Argentina has the best prepared and best educated population in South America. This translates into superior service and greater customer satisfaction."

"In 2010 one of every five tourists travelling to South America and one of every four dollars spent in the region will be in Argentina," the Minister explained. "Nevertheless, this is just the beginning, as tourism in Argentina will grow at a rate of 10% annually until 2020, compared with the world average of 4.1%."

Minister Meyer outlined some of the benefits available to international investors, such as the ability to transfer net profits from investments or repatriate their investments at any time. International investors also have equal protection under Argentine law and equal access to the banking and financial sectors.

A promotional agreement between British Airways and the National Institute of Tourism Promotion (INPROTUR) was signed along with the announcement of the non-stop flights. BA will promote Argentina as a top destination in their offices in London, Europe, Russia and Asia as well as in their airline magazines and lounges.

Florencia Scardaccione, Commercial Manager of BA Argentina added, "We are delighted to offer our loyal customers in Argentina this non-stop flight. Demand from the Argentine market is expected to continue to grow over the next few years, making this flight possible."

Currently, 25 international airlines fly into Argentina. In June, Qatar Airways began direct flights from Doha, offering direct access from the Middle East and India.

The investment campaign will continue on to China, the US and other cities in Europe.

SOURCE Argentina Tourism Board