Argentina is a country which attracts very different opinions across the world with many in the UK sceptical of the country while others are more positive with regards to the economic performance of late. However, whichever camp you are in there is no doubt that Argentina has grown significantly over the last 10 years and the economy continues to confound and confuse experts even today. So what are the benefits of moving to Argentina?
Cost of living
The cost of living in Argentina is relatively low compared to many other countries around the world although while official inflation is sited at just over 9% many experts believe it is nearer 25%. This confusion and debate is not helpful because if wage increases are pegged to the official rate of inflation while prices are nearer the unofficial rate of inflation, we will see a squeeze on spending and budgets in the short to medium term.
Economic growth in Argentina was about 9% in the year to the third quarter of 2011 and while it is expected to slow slightly in the final quarter this is well above the average around the world. When you also take into account the economic turmoil in the European Union and many other countries around the globe this is a phenomenal performance which has confounded any experts. Whether or not the official figures are 100% correct is another matter for debate but at this moment in time, assuming the official data is correct, Argentina is confounding the worldwide economy.
The 2001 collapse of the Argentinian economy had a major impact upon the property market and indeed led to the government devaluing the currency. This in turn made the country more attractive for overseas investors and the property sector was an obvious target for these additional international funds. However, property prices and the quality of property still compares very favourably to the UK for example, a factor which has not gone unnoticed by UK and other expats.
Whether or not you believe the government statistics with regards to economic growth and inflation there is no doubt there has been massive investment by the authorities over the last 10 years. This has led to a significant increase in the number of public-sector workers and added a further seed of doubt with regards to the country’s ability to continue this phenomenal growth in the face of a worldwide economic downturn. However, you have to give the authorities some credit for their investment track record which has so far to date created massive job opportunities across-the-board.
There are many reasons to move to Argentina and we have listed some of them above with further comment in our larger article. This is a country which has often been ignored by many expats but one which, at least on the face of it, is in the middle of a significant economic boom. The discovery of oil off the coast of Argentina has also been a very positive element of recent economic activity and attracted the attention of major overseas investors.
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