The Word Is Out on BA’s “Wonderfulness”

Wine critic Matt Kramer writes of the "wonderfulness" of BA. (Pictured: Soberbia 22 in Palermo)

Wine critic Matt Kramer writes of the "wonderfulness" of Buenos Aires. (Pictured: Soberbia 22 in Palermo)

American wine critic and Wine Spectator contributing editor Matt Kramer arrives in Buenos Aires for a three-month stay and wastes little time getting to know the food & wine delights of his newly adopted barrio of Palermo Soho. Kramer authored several Making Sense of Wine books and coined a term “somewhereness” in describing a wine’s character.  Prior to his departure, Kramer—a seasoned globetrotter—says none of his friends or family members ever asked him,Why Argentina? “Apparently, the word is out on the wonderfulness of Argentina as a place and the Argentines as a people,” Kramer surmises, “And, let’s be honest, the word is also out about how wonderfully inexpensive Argentina is for those of us trading woebegone American bucks for even more economically bedraggled Argentine pesos.” In describing what makes BA unique, Kramer points to the “intactness” of the city and a true feeling of identity in the city’s many diverse neighborhoods. In his own neighborhood of Palermo Soho, Kramer praises the diversity of culinary offerings: “Around the corner from us is a Moroccan restaurant. Italian restaurants abound. And, surprisingly, there are a fair number of sushi places.” So for at least one veteran critic in Buenos Aires, it seems “somewhereness” has truly given way to “wonderfulness.” ¡Buen provecho! (Full Wine Spectator article)

Just two of the new officers, Chevys & Hondas that hit the streets of BA this morning.

500 new police officers, Chevy Merivas & Honda motorcycles hit the streets of BA this morning.

The new International Living Quality of Life Index covered yesterday gave Argentina high marks for “Risk & Safety;” yet security—or the lack thereof in many lower and middle class neighborhoods—remains the most important and troubling issue for many porteños. That’s why today’s introduction of the Metropolitan Police Force is being applauded throughout many corners of Buenos Aires.  According to Clarín, 500 trained officers will hit the streets and initially serve a supporting role to the Federal Police who have long held jurisdiction. In addition to taking on additional duties in the coming months, Police Chief Eugenio Burazco says the MPF ranks will grow to 1,400 officers by May and over 10,000 officers by 2016. In addition to being armed, the new officers will be patrolling the streets of Buenos Aires in style with a fleet of 50 new Chevrolet Meriva patrol cars painted with a distinctive black-and-white checkerboard pattern. Years in the making and highly politicized by opposition parties, the acceptance and perceived effectiveness of a Metropolitan Police Force will have serious implications for 2011 candidates like BA Mayor Mauricio Macri. On his facebook page, Macri describes today as an historic day designed to restore the “tranquilidad de la gente.” (the calm of the people.)

Argentina and Uruguay were the top 2 Latin American destinations in IL's Annual Quality of Life Index.

Argentina and Uruguay were the top 2 Latin destinations in IL's Annual Quality of Life Index.

January’s headlines out of BA were either steeped in controversy (The debt row and Central Bank standoff) or sexual scandal (Fake Viagra from China and Cristina’s pork promotion.) Yet, despite all of the infighting and innuendo, there was one very positive piece of news that merits repeating for those contemplating relocation to Argentina. For the second consecutive year, Argentina and Uruguay were the two highest ranking Latin American countries in International Living’s annual 2010 Quality of Life Index. (Click image to enlarge) On the 1-100 scale, Argentina received its highest marks in the categories of Risk & Safety (100), Climate (91), Freedom (83) and Health (82). Of the 194 countries surveyed, Argentina ranked #26 sandwiched right between the United Kingdom and Slovenia; however, Argentina’s Cost of Living score (61) was actually 2x better than the U.K.’s (30). Neighboring Uruguay, another InvestBA favorite along the Tango Coast, garnered the #19 spot on the IL 2010 Index, sandwiched right between more expensive and significantly colder European competitors, Finland and Hungary. In a related story, data released this week from Argentina’s Tourist Ministry suggests a record number of foreigners traveled to Argentina in January “buoyed by an improved global economic situation and competitive prices at the country’s different destinations relative to those of its neighbors.” The entire 2010 Quality of Life Index ranking is available at InternationalLiving.com.

Cows outnumber people over 3:1 in Uruguay and grass-fed beef is the norm. (Photo: Eduardo Amorim)

Cows outnumber people over 3:1 in Uruguay and grass-fed beef is the norm. (Photo: Eduardo Amorim)

An American Express print campaign several years back encouraged cardholders to travel abroad with this culinary tagline, “Only 4 restaurants in the world can prepare the perfect steak…3 of them are in Argentina.” Perhaps the only thing bigger than the country’s reputation for fine beef is the sheer girth of the cattle that roam the fertile Pampas. But a funny thing happened on the road to recovery from the ‘02 financial crisis, Alexei Barrionuevo tells New York Times readers: “Argentina, in some ways, is a victim of its own success. Exports rose after a steep devaluation of the Argentine peso in 2002 made the country’s beef more competitive globally. But supplies began to dry up for Argentine consumers — who eat more beef per person than any others in the world, industry officials say — causing prices to rise and stoking social discontent.” Further meddling by former President Kirchner and recent drought conditions have forced many farmers to focus more efforts on soybean cultivation. Advantage Uruguay. The neighboring country of 3.8 million is growing beef exports and gaining visibility on the world stage, thanks in part to an aggressive marketing campaign by INAC, the National Beef Institute. InvestBA remains highly bullish on this beautiful country which offers foreign investors unique investment opportunities, tax advantages, natural beauty in both the interior and along the Tango Coast, and—together with Argentina—the highest quality of life of any countries in Latin America. (Full NYTimes article)

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Members of the La Aguada Polo Team relax at their training facility in Buenos Aires province.

Members of the La Aguada Polo Team relax at their training facility in Buenos Aires province.

In yesterday’s post, we learned why one global investor believes Argentina offers some of the best real estate values in South America. Today, the Financial Times’ Oliver Balch explains why the mega-rich—especially those with a passion for polo—are riding out the recession in Argentina. (Full article) InvestBA readers know October to December is polo prime time in Argentina, but Balch explains that interest remains strong year-round given Argentina’s plentiful and inexpensive prairies…the world-class quality of its bloodlines…(and) its crop of exceptional players (Of the 12 best-ranked players in the world, 11 are Argentine). Cutting-edge breeding and affordable embryonic transfer facilities are also cited as competitive advantages for Argentina’s polo industry.  “Death and bankruptcy are the only reasons to quit polo,” says Balch, “As long as the country’s mega-rich patrons remain healthy and wealthy, its polo industry should as well.” And thanks to Argentina’s relative affordability, it’s not just the mega-rich who can enjoy the polo lifestyle. Polo tourism has grown exponentially in Buenos Aires province thanks to the number of estancias offering polo clinics like La Aguada, El Venado and La Araucaria. So, as long as you’re going to ride out the recession, why not create your own polo uniform and ride it out in style?

 
© 2010 InvestBA, S.A.