Weekly Report - 21 March 2006

ARGENTINA | Tourism becomes 'fourth-biggest industry'. Tourist arrivals in 2005 reached 1.8m, or 18.4% more than in the previous year. With each one spending on average US$95.9 per day, earnings from tourism rose to US$3bn, or 11.7% more than in 2004. Daniel Aguilera, the tourism undersecretary, noted last week that this has made tourism Argentina's fourth-biggest earner of hard currency. Though at a slightly slower rate, the boom is expected to continue into this year. Planned investment in the sector amounts to US$1.4bn, or three times last year's level. Aguilera predicts that arrivals will more than double, to about 4m, and earnings will rise by about 17% to US$3.5bn.

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