Source: ALTA
ALTA expresses its deep concern at the measures reported by the Central Bank of the Argentine Republic in Communication “A” through 7407, which establishes as of 26 November 2021, that “financial and non-financial entities issuing credit cards cannot allow payments that finance in installments purchases through credit cards of its clients – human and legal persons – to cover tickets abroad and other tourist services internationally (such as accommodation, car rental, etc.), either made directly with the service provider or indirectly, through a travel and / or tourism agency, web platforms or other intermediaries.”
This sudden, abrupt measure hits the already weakened travel and tourism industry hard, in addition to representing another obstacle for citizens who want or have to travel abroad. With this restriction for the acquisition of tourist services abroad, the country is directly and negatively impacted, diminishing the interest of airlines and service providers that not only transport outbound tourism, but also inbound tourism and even making it impossible for many Argentines to make trips to their country. This will also reduce the opportunities to develop national tourism that generates so many jobs.
Argentina is an extremely attractive country for tourism, with an unequaled historical and cultural wealth. In 2019 the travel and tourism industry generated more than 38.9 billion dollars, which represents 9.4% of contributions to the Gross Domestic Product and 7.6% to jobs (WTTC). These abruptly imposed measures undermine much-needed planning in the air transport and tourism industries. This measure, added to the existing travel restrictions that do not provide even certainty or confidence for the eventual entry of passengers by 2022, will have an extremely negative impact on the socioeconomic well-being of the country.
ALTA calls on the authorities to weigh the negative consequences of this measure and work together with the industry in measures that generate benefits for the country.