Business Traveler (USA)

Meet in Buenos Aires

The Paris of South America is a meetings destinatio­n with a comeback story that

- By Liat Clark

The Paris of South America is a meetings destinatio­n with a comeback story that defies the odds

In December 2001, Argentina suffered the worst economic collapse in over a century, a confidence-shattering financial breakdown that made the global crisis at the end of 2008 look like a minor inconvenie­nce by comparison. In the decade since, however, the country has staged a dizzying recovery and has triumphed over both history and negative expectatio­ns to enjoy both stability and growth.

When Argentina’s economy crashed a dozen years ago, the road back seemed inconceiva­bly long – the country’s dramatic turnaround could not have been predicted. But in the intervenin­g years (2002-2011), the Argentine economy has seen a 94 percent increase, and it shows.

Although last year’s growth rate slowed (along with the rest of the world), so far 2013 has seen a return of momentum. The latest reports have the Argentinia­n economy growing at 7.8 percent clip in May, which puts first quarter growth at 4.9 percent. Argentina’s Central Bank projects the economy to grow a robust 4.6 percent in 2013.

Tourism is booming; new air links make it more convenient to visit than ever before.

“After Argentina’s catastroph­ic economic meltdown in 2001, the number of people living on the poverty line increased to nearly 50 percent,”says Colin M Lewis, professor of Latin American economic history at the London School of Economics (LSE).“Now 60 percent of Argentinia­ns are considerab­ly better off than they were in 2000-02.”

The capital Buenos Aires is a grand city in every sense, often called the Paris of South America. Steeped in history and culture, it offers event goers a wealth of opportunit­y.

“Buenos Aires has changed a heck of a lot in the past six years,”says Paul Irvine, co-founder of luxury South American

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