Hundreds of foreign jetsetters ring in the New Year at BA's Faena Hotel (Source: Clarín)

Hundreds of foreign jetsetters ring in the New Year at BA's Faena Hotel (Source: Clarín)

The Dow broke above 10,000 this morning and European debt concerns eased, so TheStreet.com figures Wall Street execs could use some tips on what foreign countries to invade and blow invest their next quarterly bonus. But this isn’t 2000 when you could charter a G-IV and kite off to Sardinia for a Tyco toga party featuring Jimmy Buffett, an ice sculpture of Michelangelo’s David spewing vodka from his privates and a birthday cake in the shape of a woman’s breasts with lit sparklers.  No, this is 2010, so you’ve got to fly coach and hopefully find a country with an exchange rate that makes the hard-earned, government bailout coin go a little farther. Look no further than Buenos Aires writes JetSetReport.com’s Michael Martin. “BA’s allure remains undiminished for American travelers looking for the romance of Paris made affordable by the weak Argentine peso,” Martin writes, “Tourism has flourished in Argentina’s capital with a bevy of new boutique hotels along the vibrant Puerto Madero waterfront and new developments by star architects such as Norman Foster and Philippe Starck.” It’s been exactly four years since New York Magazine’s Moveable Fiesta article which declared Buenos Aires “The New Expat Heaven.” Judging by TheStreet.com article, very little has changed…except for the more favorable exchange rate. The vodka-spewing ice sculpture may still be out of reach, but then again, life is all about trade-offs. (TheStreet.com article and JetSetReport.com).

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.

Pinamar: A Model For Sustainability in BA

An aerial view of Pinamar, one of the most popular destinations along the Tango Coast. (Julia Sapienza)

An aerial view of Pinamar, one of the most popular destinations along the Tango Coast. (Julia Sapienza)

In January, when work slows and temperatures soar, the annual exodus of Buenos Aires families to the surrounding coastlines in Argentina and Uruguay kicks into high gear. And of the many seaside towns that make up Argentina’s portion of the Tango Coast, Pinamar is one of the more popular destinations. Pinamar has over 12,000 accommodations scattered among hotels, apartments and condominiums, while many private residences are available for rent during the peak summer months of January and February. Reservations are up over last year, according to Pinamar Director of Tourism Rosa Boero, thanks to competitive pricing: four-star hotels can be found for under $200/night while a good steak dinner for two with a bottle of malbec costs about $30. Looking ahead to next summer, low prices won’t be the only attraction in Pinamar. According to Borneo, Pinamar will embark on an ambitious coastal conservation program in April that will involve tearing down all existing City-owned public beach facilities and replacing them with environmentally-friendly structures. The Coastal Revnovation Plan is a first in a country where sustainability has lagged but is beginning to creep into public consciousness. One local envionrmental group, ProCostas, believes the Pinamar project can be a model for other towns along the Tango Coast. (Full PDF Report, Spanish)

The beautiful Mar del Plata Golf Club is one of several courses along the Tango Coast.

The beautiful Mar del Plata Golf Club is one of several courses awaiting visitors to the Tango Coast.

With only three weeks before the first day of summer, La Nación surveys hotel owners and real estate brokers regarding bookings and optimism for the upcoming tourist season in Mar del Plata, Pinamar and Cariló. Reservations are up and optimism is high according to the article, thanks in part to the relative strength of the Brazilian real making Argentina’s beaches more affordable destinations for Argentines and Brazilians alike. The City of Mar del Plata is planning over 100 concerts and cultural events during the upcoming summer season, many of them free to the public. Just up the coast in Pinamar, a popular destination for the upper-middle class, hoteliers and property owners are trying to keep prices around the same level as 2008, and in Cariló, a destination La Nación describes as “untouched” by the recent economic slowdown, the trend among visitors is moving away from short-term rentals and toward “the purchase of homes, as well as new condos along the coastline.” And over in Punta del Este, Uruguay’s premier destination for the rich and famous, La Nación says confidence is high with brokers recommending property owners hold prices at 2008 levels to offset the 17% drop in the dollar’s value versus the Uruguayan Peso in 2009.

CCTV tells one billion viewers in mainland China about the upcoming Tango Party in Buenos Aires.

CCTV tells one billion viewers in mainland China about the upcoming Tango Party in Buenos Aires.

“The world speaks many languages.” That quote from Paulo Coelho’s spiritual classic The Alchemist is gaining additional validity with each successive post here on InvestBA. Yesterday we had a front page story from a Dubai newspaper praising Buenos Aires as an “Electric City,” and now China’s CCTV gets in on the porteño lovefest by giving 1 billion viewers in mainland China a sneak peak at next week’s “Huge Tango Party” here in BA. Watching the 90-second clip reinforces two key themes: 1.) Tango elicits international intermingling as convoluted as the dance itself, and 2.) Tango is an addiction. The first takeaway is evident just from watching the video: Native Chinese broadcasters promoting a dance with African and European influences and translating Argentine Castellano into English for a global audience online. The addiction theme is best understood by connecting with actual tango dancers in the blogosphere like Fishnets & Fedoras or Well-Heeled who summarizes “The Price of Addiction to Argentine Tango” here beautifully. “In an episode of House Hunters International,” W-H writes, “a Californian couple bought a $200,000 pied-a-terre in Buenos Aires just so they can focus on tango! The lady insisted on an apartment with enough open space that she can turn into a salon for her tango parties. Now that’s dedication.” That episode and others featuring foreign tango addicts relocating to Buenos Aires can be seen here on HGTV.

 
© 2010 InvestBA, S.A.