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
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?
Party Time: The strength of the Real makes BA and other Argentine cities a bargain for Brazilians.
With the 2014 World Cup and the 2016 Summer Olympics on the horizon, Brazil has the high-profile task of welcoming the World to its doorstep for, not one, but two major sporting events in the coming decade. But where do Brazilians go when they need a little D&R (Descanso e Relaxmento)? Well judging by the Portuguese-speaking throngs on the slopes of Bariloche or in the trendiest parrillas in Puerto Madero, Argentina is a safe bet. An article in Brazil’s Primeira Edição newspaper confirms Buenos Aires’ popularity for a variety of reasons including diversity, proximity and bottom-line affordability: “For many, Buenos Aires is the most European city in the Southern Hemisphere, most resembling cities like Paris, Madrid and Rome. Her intense cultural life, beautiful architecture, and excellent dining and leisure options make the Argentine capital a favorite destination for many Brazilians who want to visit a metropolis that is vibrant, cultured and, most importantly cheap.” The article notes that a Brazilian real is today worth 2.2 Argentine pesos (Current rate is actually 2.22), thus making cities like Buenos Aires extremamente acessível. So Congrats, Lula…enjoy your little Games. While you’re busy entertaining politicians and IOC officials, BA will be entertaining your people…and they’re a hell of a lot more fun. (YouTube)
A park bench in Plaza Intendente Seeber in the Palermo neighborhood of Buenos Aires
William Bonner, author of The New Empire of Debt: The Rise and Fall of an Epic Financial Bubble
Michael Luongo paints a BA canvas in today's Irish Times. Photograph: Chad Ehlers/PC/Getty
“The elevator stammered at 14, but I could already hear the sultry, tinny, 1930s tango music above me, and I ran the final two flights up the rounded patio staircase, the music growing louder with each step. The sun would soon be reaching its golden moment, silhouetting the bronze dome of the Congreso building, three blocks away.” Wow..some writers just know how to paint a canvas with their word selection. Perhaps that’s why Frommer’s chose Michael Luongo to write the Frommer’s Buenos Aires Guidebook which, according to the author, is “the best selling U.S. published guide to Buenos Aires and is purchased by about 1 out of 10 Americans heading to the Argentine capital.” In today’s Irish Times, Luongo describes the BA transformation he has witnessed first-hand since the 2001 peso crisis, “Overnight a high-priced – at least for Latin America – destination, where the dollar and the peso were equal, became a destination with 65 per cent off. By 2003 the boom was evident, first with Argentinians holidaying at home and, later, with European, North American and Brazilian tourists arriving.” For more information and beautiful descriptions of life in BA, enjoy the Irish Times article or, better yet, just buy the Frommer’s Buenos Aires Guidebook here.
