In order to incentivise domestic tourism and local demand, the Argentinian government has announced the second version of Previaje. The National Tourist Services Pre-Sale Incentive Scheme returns 50% of the expenses incurred in advance - transport, accommodation, restaurants, entertainment, among others - in credit, which can be used again in the tourism sector.
As the COVID-19 vaccination rates increased throughout the year, active cases of the virus decline and allowed the Argentinian government to start easing sanitary and mobility restrictions in the country. Since August 2021, a vast number of activities such as social, cultural and recreational events are allowed both at home and in commercial establishments.
Major global luxury hotel chains such as Hilton, Four Seasons, Sofitel, Sheraton and InterContinental Hotels remain dominant in experiential luxury in Argentina. Furthermore, Marriott is developing a new USD100 million, 150-room W Hotel in the Puerto Madero neighbourhood of Buenos Aires.
The lower number of international tourists continues to impact the performance of experiential luxury in Argentina. Not only in Buenos Aires, but also in most tourist destinations, hotels, restaurants and entertainment establishments continue to struggle as a result of the COVID-19 pandemic.
Gastronomy, office rooms and services focused on wellbeing have always been considered complementary services of luxury hotels, but the COVID-19 pandemic has transformed these into some of the main attractions. Also, sanitary measurements will continue to be highly relevant until the pandemic is over as consumers are highly aware of hygiene protocols to reduce the risk of catching the virus.
As Argentinians have become more used to digital solutions, it is now crucial for brands to have omnichannel strategies to offer convenience to consumers. Being able to book online and have QR menus available are part of the demanded digitalised solutions that most consumers will expect to find in any experiential luxury establishment over the forecast period.
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Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is an aggregation of Luxury Hotels and Luxury Foodservice.
This report originates from Passport, our Experiential Luxury research and analysis database.
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