Buenos Aires Warning: You are not logged in. Your IP address will be publicly visible if you make any edits. If you log in or create an account, your edits will be attributed to your username, along with other benefits.Anti-spam check. Do not fill this in! ==Economy== {{wide image|Skyline_Puerto_Madero.jpg|800px|[[Puerto Madero]], in the [[Buenos Aires Central Business District]], currently represents the largest urban renewal project in the city of Buenos Aires. Having undergone an impressive revival in merely a decade, it is one of the most successful recent waterfront renewal projects in the world.<ref>Ann Breen and Dick Rigby, ''The New Waterfront: A Worldwide Urban Success Story'' – McGraw-Hill Professional</ref>}} [[Image:Buenos Aires - Bolsa de Comercio.jpg|thumb|The [[Buenos Aires Stock Exchange]], the main stock exchange and financial center of Argentina.]] [[Image:Banco_Nación_(1416694260)_Buenos_Aires,_Argentina.jpg|thumb|Headquarters of the [[Banco de la Nación Argentina|National Bank of Argentina]], the national bank and the largest in the country's banking sector.]] Buenos Aires is the financial, industrial, and commercial hub of Argentina. The economy in the city proper alone, measured by Gross Geographic Product (adjusted for purchasing power), totaled US$102.7 billion (US$34,200 per capita) in 2020<ref name=estatico>{{cite journal|url=http://estatico.buenosaires.gov.ar/areas/hacienda/sis_estadistico/anuario_2006/tomo1/09.pdf |title=Economía |language=es |access-date=22 January 2010 |url-status=dead |archive-url=https://web.archive.org/web/20090325001525/http://estatico.buenosaires.gov.ar/areas/hacienda/sis_estadistico/anuario_2006/tomo1/09.pdf |archive-date=25 March 2009 }}</ref> and amounts to nearly a quarter of Argentina's as a whole.<ref>{{Cite journal |url=http://www.mecon.gov.ar/secpro/dir_cn/documentos/producto_bruto_geografico.xls |archive-url=https://web.archive.org/web/20080313001135/http://www.mecon.gov.ar/secpro/dir_cn/documentos/producto_bruto_geografico.xls |archive-date=13 March 2008 |title=Distribution of Gross Value Added by jurisdiction and economic activity|publisher=Producto Bruto Geografico |language=es |access-date=22 January 2010}}</ref> Metro Buenos Aires, according to one well-quoted study, constitutes the 13th largest economy among the world's cities in 2005.<ref>{{cite web |url=http://www.citymayors.com/statistics/richest-cities-2005.html |title=City Mayors reviews the richest cities in the world in 2005 |publisher=Citymayors.com |date=11 March 2007 |access-date=5 May 2009 |archive-url=https://web.archive.org/web/20120918030640/http://www.citymayors.com/statistics/richest-cities-2005.html |archive-date=18 September 2012 |url-status=live }}</ref> The Buenos Aires [[Human Development Index]] (0.889 in 2019) is likewise high by international standards.<ref>{{cite web|url=http://www.desarrollohumano.org.ar/IDHArgentina/98_nac/98_nac.html |archive-url=https://web.archive.org/web/20071009140109/http://www.desarrollohumano.org.ar/IDHArgentina/98_nac/98_nac.html |archive-date=9 October 2007 |title=Informe Argentino Sobre Desarrollo Humano |date=9 October 2007 |access-date=9 August 2009}}</ref> The city's services sector is diversified and well-developed by international standards, and accounts for 76 percent of its economy (compared to 59% for all of Argentina's).<ref name=city>{{cite web|url=http://buenosaires.gov.ar/areas/hacienda/sis_estadistico/buscador.php?tipopubli=4&subtipopubli=&titulo=&anio=2008&mes= |title=City of Buenos Aires Statistical Annual (2008) |publisher=Buenosaires.gov.ar |access-date=9 August 2009 |url-status=dead |archive-url=https://web.archive.org/web/20090919193252/http://buenosaires.gov.ar/areas/hacienda/sis_estadistico/buscador.php?tipopubli=4&subtipopubli=&titulo=&anio=2008&mes= |archive-date=19 September 2009 }}</ref> Advertising, in particular, plays a prominent role in the export of services at home and abroad. However, the financial and real estate services sector is the largest and contributes to 31 percent of the city's economy. Finance (about a third of this) in Buenos Aires is especially important to Argentina's banking system, accounting for nearly half the nation's bank deposits and lending.<ref name=city/> Nearly 300 hotels and another 300 [[hostel]]s and bed & breakfasts are [[Tourism in Buenos Aires|licensed for tourism]], and nearly half the rooms available were in four-star establishments or higher.<ref>{{cite web|url=http://buenosaires.gov.ar/areas/hacienda/sis_estadistico/SEC_abril_20082.pdf |title=abril 2008 para pdf.indd |access-date=9 August 2009 |url-status=dead |archive-url=https://web.archive.org/web/20121024201444/http://buenosaires.gov.ar/areas/hacienda/sis_estadistico/SEC_abril_20082.pdf |archive-date=24 October 2012 }}</ref> Manufacturing is, nevertheless, still prominent in the city's economy (16 percent) and, concentrated mainly in the southern part of the city. It benefits as much from high local purchasing power and a large local supply of skilled labor as it does from its relationship to massive agriculture and industry just outside the city limits. Construction activity in Buenos Aires has historically been among the most accurate indicators of national economic fortunes, and since 2006 around {{convert|3|e6m2|e6ft2|sp=us}} of construction has been authorized annually.<ref name=city/> Meat, dairy, grain, tobacco, wool and leather products are processed or manufactured in the [[Greater Buenos Aires|Buenos Aires metro area]]. Other leading industries are automobile manufacturing, oil refining, metalworking, machine-building, and the production of textiles, chemicals, clothing and beverages. The city's budget, per Mayor Macri's 2011 proposal, included US$6 billion in revenues and US$6.3 billion in expenditures. The city relies on local income and capital gains taxes for 61 percent of its revenues, while federal revenue sharing contributes 11 percent, [[property tax]]es, 9 percent, and vehicle taxes, 6 percent. Other revenues include user fees, fines, and gambling duties. The city devotes 26 percent of its budget to education, 22 percent for health, 17 percent for [[public service]]s and infrastructure, 16 percent for social welfare and culture, 12 percent in administrative costs and 4 percent for law enforcement. Buenos Aires maintains low debt levels and its service requires less than 3 percent of the budget.<ref>{{cite web |url= http://estatico.buenosaires.gov.ar/areas/hacienda/presupuesto2011/pdf/02_proyecto_de_ley_de_presupuesto_2011.pdf |title= Presupuesto 2011 |access-date= 25 February 2011 |archive-url= https://web.archive.org/web/20120406051610/http://estatico.buenosaires.gov.ar/areas/hacienda/presupuesto2011/pdf/02_proyecto_de_ley_de_presupuesto_2011.pdf |archive-date= 6 April 2012 |url-status= live }}</ref> ===Tourism=== {{Main|Tourism in Buenos Aires|Landmarks in Buenos Aires}} [[File:Buenos Aires Tour Bus.jpg|thumb|left|Buenos Aires Bus, the city's [[tour bus service]]. The official estimate is that the bus carries between 700 and 800 passengers per day.<ref>{{cite web |url=http://www.clarin.com/ciudades/Medio-millon-pasajeros-Bus-Turistico_0_521347973.html |title=Medio millón de pasajeros ya viajó en el Bus Turístico |language=es |date=21 July 2011 |publisher=Clarin.com |access-date=13 September 2013 |archive-url=https://web.archive.org/web/20140409211848/http://www.clarin.com/ciudades/Medio-millon-pasajeros-Bus-Turistico_0_521347973.html |archive-date=9 April 2014 |url-status=live }}</ref>]] According to the World Travel & Tourism Council,<ref name=rgi0708>{{cite web |url=http://www.wttc.travel/ |title=Wttc Travel |website=Wttc.travel |access-date=13 September 2013 |archive-url=https://web.archive.org/web/20151017174501/http://www.wttc.travel/ |archive-date=17 October 2015 |url-status=dead }}</ref> tourism has been growing in the Argentine capital since 2002. In a survey by the travel and tourism publication [[Travel + Leisure]] Magazine in 2008, visitors voted Buenos Aires the second most desirable city to visit after [[Florence]], Italy.<ref>Buenos Aires was also voted world's best [[South American]] city of fashion [http://www.travelandleisure.com/worldsbest/2008/results.cfm?cat=cities ''Travel + Leisure'' Magazine worldsbest/2008] Retrieved on 9 July 2008 {{webarchive |url=https://web.archive.org/web/20090727012939/http://www.travelandleisure.com/worldsbest/2008/results.cfm?cat=cities |date=27 July 2009 }}</ref> In 2008, an estimated 2.5 million visitors visited the city.<ref name="smith">{{cite web |url=http://www.smithsonianmag.com/travel/Hola-Buenos-Aires.html?c=y&page=1 |archive-url=https://archive.today/20130202145841/http://www.smithsonianmag.com/travel/Hola-Buenos-Aires.html?c=y&page=1 |url-status=dead |archive-date=2 February 2013 |title=Buenos Aires: a City's Power and Promise |work=Smithsonian Magazine |access-date=2 May 2012 }}</ref> Buenos Aires is an international hub of highly active and diverse [[nightlife]] with [[Bar (establishment)|bars]], dance bars and [[nightclub]]s staying open well past midnight.<ref>{{cite magazine|last=Nicolás|first=Cócaro|date=April 1983|title=Attractive, enigmatic Buenos Aires|url=https://books.google.com/books?id=UzQEAAAAMBAJ&pg=PA35|magazine=[[The Rotarian]]|issn=0035-838X|volume=142|issue=4|access-date=5 February 2020|page=35|archive-date=26 February 2024|archive-url=https://web.archive.org/web/20240226125221/https://books.google.co.in/books?id=UzQEAAAAMBAJ&pg=PA35&redir_esc=y#v=onepage&q&f=false|url-status=live}}</ref><ref>{{cite book|last=Sebreli|first=Juan José|author-link=Juan José Sebreli|language=Spanish|date=1 April 2011|accessdate=5 February 2020|url=https://books.google.com/books?id=oT75KNJnNFkC&pg=PT149|page=149|title=Buenos Aires, vida cotidiana y alienación: seguido de Buenos Aires, ciudad en crisis|publisher=[[Penguin Random House]]|isbn=9789500734257|archive-date=26 February 2024|archive-url=https://web.archive.org/web/20240226125220/https://books.google.com/books?id=oT75KNJnNFkC&pg=PT149#v=onepage&q&f=false|url-status=live}}</ref><ref>{{cite web|url=https://www.lanacion.com.ar/sociedad/con-mantras-ciegas-altura-cinco-experiencias-culinarias-nid2325319|title=Con mantras, a ciegas o en altura: cinco experiencias culinarias en la ciudad|last=Cullen|first=Lucía|language=Spanish|date=21 January 2020|accessdate=5 February 2020|work=[[La Nación]]|archive-date=5 August 2021|archive-url=https://web.archive.org/web/20210805181439/https://www.lanacion.com.ar/sociedad/con-mantras-ciegas-altura-cinco-experiencias-culinarias-nid2325319/|url-status=live}}</ref> Visitors have many options for travel such as going to a tango show, an [[estancia]] in the [[Buenos Aires Province|Province of Buenos Aires]] or enjoying the traditional [[asado]]. New tourist circuits have recently evolved, devoted to Argentines such as [[Carlos Gardel]], [[Eva Perón]] or [[Jorge Luis Borges]]. Before 2011, due to the [[Argentine peso]]'s favorable exchange rate, its [[shopping centers]] such as Alto Palermo, Paseo Alcorta, [[Patio Bullrich]], [[Abasto de Buenos Aires]] and [[Galerías Pacífico]] were frequently visited by tourists. Nowadays, the exchange rate has hampered tourism and shopping in particular. In fact, notable consumer brands such as Burberry and Louis Vuitton have abandoned the country due to the exchange rate and import restrictions. The city also plays host to musical festivals, some of the largest of which are [[Quilmes Rock]], [[Creamfields BA]], [[Ultra Music Festival]] (Buenos Aires), and the [[Buenos Aires Jazz Festival]]. [[File:Buenos_Aires_Galerias_Pacifico_3.jpg|thumb|[[Galerías Pacífico]] is a [[shopping centre]] located at the intersection of [[Florida Street]] and [[Córdoba Avenue]]]] The most popular tourist sites are found in the historic core of the city, specifically, in the [[Montserrat, Buenos Aires|Montserrat]] and [[San Telmo]] neighborhoods. Buenos Aires was conceived around the [[Plaza de Mayo]], the colony's administrative center. To the east of the square is the ''[[Casa Rosada]]'', the official seat of the [[executive branch]] of the government of Argentina. To the north, the ''[[Buenos Aires Metropolitan Cathedral|Catedral Metropolitana]]'' which has stood in the same location since colonial times, and the [[Banco de la Nación Argentina]] building, a parcel of land originally owned by [[Juan de Garay]]. Other important colonial institutions were [[Buenos Aires Cabildo|Cabildo]], to the west, which was renovated during the construction of [[Avenida de Mayo]] and Julio A. Roca. To the south is the ''Congreso de la Nación'' (National Congress), which currently houses the ''Academia Nacional de la Historia'' (National Academy of History). Lastly, to the northwest, is City Hall. [[File:Puente_de_la_mujer_-_panoramio.jpg|thumb|[[Puente de la Mujer]] in [[Puerto Madero]]]] Buenos Aires has become a recipient of [[LGBT tourism]],<ref>{{cite web|url=http://intransit.blogs.nytimes.com/2010/08/24/qa-in-buenos-aires-gay-friendly-spots/|title=Q&A: Gay-Friendly Spots in Buenos Aires|last1=Haljuci|first1=Rusha|date=24 August 2010|work=[[The New York Times]]|access-date=29 December 2015|archive-url=https://web.archive.org/web/20160208055820/http://intransit.blogs.nytimes.com/2010/08/24/qa-in-buenos-aires-gay-friendly-spots/?_r=0|archive-date=8 February 2016|url-status=live}}</ref><ref name="gayclarin">{{cite web|url=http://edant.clarin.com/diario/2003/11/01/h-05015.htm|title=Buenos Aires, nueva capital del turismo gay de Sudamérica|last1=Santagati|first1=Adriana|date=1 November 2003|work=[[Clarín (Argentine newspaper)|Clarín]]|publisher=Clarín Group|access-date=29 December 2015|archive-url=https://web.archive.org/web/20160105115135/http://edant.clarin.com/diario/2003/11/01/h-05015.htm|archive-date=5 January 2016|url-status=dead}}</ref> due to the existence of some [[gay-friendly]] sites and the [[LGBT rights in Argentina#Same-sex marriage legalization|legalization]] of [[same-sex marriage]] on 15 July 2010, making it the first country in [[Latin America]], the second in the [[Americas]], and the tenth in the world to do so. Its ''Gender Identity Law'', passed in 2012, made Argentina the "only country that allows people to change their gender identities without facing barriers such as [[Hormone replacement therapy (transgender)|hormone therapy]], [[Sex reassignment surgery|surgery]] or psychiatric diagnosis that labels them as having an abnormality". In 2015, the [[World Health Organization]] cited Argentina as an exemplary country for providing transgender rights. Despite these legal advances, however, homophobia continues to be a hotly contested social issue in the city and the country.<ref>{{cite web|url=http://www.france24.com/en/20180206-activists-hold-collective-kiss-buenos-aires-protest-homophobia|title=Activists hold collective kiss in Buenos Aires to protest homophobia|date=6 February 2018|website=fRance24.com|access-date=5 October 2018|archive-url=https://web.archive.org/web/20180927113532/https://www.france24.com/en/20180206-activists-hold-collective-kiss-buenos-aires-protest-homophobia|archive-date=27 September 2018|url-status=live}}</ref> Buenos Aires has various types of accommodation ranging from luxurious five star hotels in the city center to budget hotels located in suburban neighborhoods. Nonetheless, the city's transportation system allows easy and inexpensive access to the city. There were, {{as of|2008|February|lc=y}}, 23 five-star, 61 four-star, 59 three-star and 87 two or one-star hotels, as well as 25 [[boutique hotel]]s and 39 [[apart-hotel]]s; another 298 [[hostel]]s, [[bed & breakfast]]s, [[vacation rental]]s and other non-hotel establishments were registered in the city. In all, nearly 27,000 rooms were available for tourism in Buenos Aires, of which about 12,000 belonged to four-star, five-star, or boutique hotels. Establishments of a higher category typically enjoy the city's highest occupation rates.<ref>[http://buenosaires.gov.ar/areas/hacienda/sis_estadistico/SEC_abril_20082.pdf Buenos Aires Statistical Monthly, April 2008] {{webarchive|url=https://web.archive.org/web/20121024201444/http://buenosaires.gov.ar/areas/hacienda/sis_estadistico/SEC_abril_20082.pdf |date=24 October 2012 }}</ref> The majority of the hotels are located in the central part of the city, in close proximity to most main tourist attractions. Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see Christianpedia:Copyrights for details). Do not submit copyrighted work without permission! Cancel Editing help (opens in new window) Discuss this page