*This article was last updated in March 2024.
So you're interested in spending some time in Argentina, learning Spanish and experiencing a new culture? Firstly, congratulations! We've already written about the top reasons we think Buenos Aires is a great place to live and study Spanish. The Argentine capital is full of energy, culture, history and charm and these days you can spend a good deal of time there without breaking the bank.
Those who come to travel or study in Argentina will find their dollars or euros go a long way. This is in large part due to changing in the exchange rate. In March 2020, one US dollar was worth around 60 pesos – four years later it’s around 850 pesos.But there’s even more to it than this. Argentina’s unofficial exchange rate – known locally as the ‘dólar blue’ – currently stands at around 1,000 pesos to the dollar, meaning it's possible to make your money go even further (see below for some tips on how to benefit from this rate and more).
Is Buenos Aires Cheap for Students?
Though inflation has been running high for a while, recent currency devaluations means that Buenos Aires remains really affordable for international students and digital nomads. According to cost of living comparison site, Numbeo, as of March 2024 consumer prices in Buenos Aires (including rent) are:
80% cheaper than New York City
74% cheaper than Los Angeles
74% cheaper than London
73% cheaper than Miami
28% cheaper than Sao Paulo (Brazil)
As you can see, the cost of living in Buenos Aires remains very low, not just compared to major US and European cities but even other large South American cities. It's no wonder then that the Argentine capital has become so popular among travelers, students and remote workers. In fact, according to Nomad List, Buenos Aires is the best city in South America for digital nomads (and 2nd in the whole world) due to its good infrastructure, affordability, friendly people and rich cultural offerings.
Here at Expanish we welcome lots of digital nomads who want to improve their Spanish while in Argentina. That's why we created a co-working space at our language school in Buenos Aires. A welcoming place to get some work done, meet other like-minded people and practice you Spanish. Read more here and get in touch with us for all the details!
Tips for making your money go further in Argentina
Cash is (usually) king: Though most places in Buenos Aires accept debit/credit cards, it's still a city where cash is commonly used to pay for goods and services. But it's usually best not to withdraw cash (pesos) from local ATM machines, as these will converted at the official exchange rate (or slightly worse) and you may also face hefty bank fees. Instead, you can benefit from the better 'dólar blue' exchange rate if you bring US dollars/euros in cash and exchange it here (Expanish staff can recommend places to exchange money). Note that foreign arrivals are legally allowed to bring up to US$10,000 in cash (or equivalent in other currencies) into the country without declaring it.
Use a money transfer service: This is a useful option as you can benefit from a favourable exchange rate without having to bring large sums of dollars/euros with you in cash. With electronic money transfer services like Western Union it just takes a few clicks online or in a mobile app to send money from your bank account overseas that you can then go pick up in cash in pesos in a local branch. There are several companies that do this but we recommend Western Union, as it is one of the larger and more established companies and has an office on the same block as our Expanish school in Buenos Aires.
Sign up for a student "welcome pack": The Buenos Aires city government offers international students a welcome kit that includes a local mobile SIM card, a SUBE card for using public transport, a map of the city and some local discounts. You can request the pack online up to 7 days before arriving in Argentina and pick it up at the airport when you land. It's a great way to set yourself up for a stay in Buenos Aires using local (cheaper) services.
Convert only what you need: Whichever method you use to receive pesos, try to calculate how much you need to spend before converting your money. You don’t want to end up holding lots of extra pesos in cash at the end of your trip – they will be difficult to exchange in the US or Europe and may lose value over time.
The low cost of living makes this a great time to visit Argentina. If you´re interested in learning Spanish in Buenos Aires, you can get in touch with us at Expanish for the most up to date information and personal guidance.
DISCLAIMER: This is an informative guide, based on available information from official government and other sources. It does not offer any rights or guarantees. Rules can change over time, and vary in different countries or regions, so always check information and requirements with official sources.
