The cost of travelling in Argentina has plummeted since the bankrupt country devalued its currency. Traditionally the most expensive country to visit in South America, Argentina devalued the peso on 6 January in an effort to restart its crippled economy, making hotels, restaurants, museums and excursions nearly 50 per cent cheaper for foreign travellers.
The peso had been tied one-to-one to the dollar since 1991, making prices of everything from a glass of wine to a hotel room similar to those in Europe, while all Argentina's South American neighbours were several times cheaper.
Argentina's tourism authorities hope to see an influx of foreign visitors in coming months despite recent unrest over the country's agonising economic crisis.
The peso is currently at an official rate of 1.4 to the dollar or two pesos to the pound. On the streets, however, a dollar can buy as much as 1.85 (a pound is worth 2.65 pesos) and analysts expect the local currency will continue to lose value.
Backpackers and others who had tended to slip as quickly as possible through this vast, beautiful but prohibitively expensive country, should now find they can afford to stay a little longer.
A double room at the Guido Palace, a mid-range hotel in Buenos Aires, costs 70 pesos. Formerly, when the peso was worth one dollar, that translated to around £48. Now, at street exchange rates, the same room costs only £26. A tango show, including a meal with champagne, at the up-market Esquina Carlos Gardel, has gone down from £45 to £35.
Internal airlines have not changed their fares since the peso was devalued, meaning flight prices to the country's most remote and famous attractions, Tierra del Fuego and Iguazu Falls, have plummeted in relation to the pound. The cheapest return flights to Iguazu, on the northern border with Brazil, cost around 170 pesos (now £64.15) with Lapa or Aerolineas Argentinas and flights to Ushuaia, in Tierra del Fuego, start at 218 pesos (now £82.26).
A word of warning for bargain hunters: the country's economic situation is unstable. If the peso continues to lose value, prices, particularly for internal flights, could change in coming months as companies try to cover their losses and pay for increased costs of fuel and imported goods. But in the long run, Argentina's crisis may have put it back on the map for many tourists.
· The Foreign Office is advising visitors to Argentina to be alert, avoid demonstrations and public gatherings and keep in touch with events. Visitors are also advised to take sufficient US dollars in cash and a credit card.
