Economy Guide in Argentina
Economic overview, job market trends, income levels, and financial landscape for expats
GDP
$643.63B
Total economic output of the country
HDI
0.84
Very high human development
Quality of Life
54/100
Good quality of life — above global average
Purchasing Power
19/100
Very weak purchasing power — limited buying capacity
Cost of Living Index
Cost of living is affordable with a CPI of 42.2. Groceries (42.0), restaurants (48.3), and rent (11.6) are significantly lower than the NYC baseline.
Housing Market
Property prices are considered expensive with a ratio of 13.4 years of household income. The rental market (index: 11.6) is more affordable.
Average Income Levels
Purchasing power is low with an index of 51.1, indicating significantly less buying power compared to the NYC baseline.
Tax System
Argentina has a progressive income tax system with rates ranging from 5% to 35% for residents and 24.5% for non-residents. The standard VAT rate is 21%. Property taxes vary by province, typically around 0.5-1.2% of fiscal value, and a personal assets tax of 1.25% applies to non-residents on local assets.
Business Environment
Argentina's startup ecosystem is robust, ranking #46 globally and #4 in South America in 2025. Buenos Aires is a significant tech hub with a growing number of startups and unicorns. Despite past macroeconomic challenges, recent government reforms aim to liberalize the economy and attract investment.
Social Security
Argentina offers universal public healthcare, free for residents and non-residents, though quality and wait times vary, leading many expats to opt for private insurance. The pension system (SIPA) is a pay-as-you-go scheme covering most of the elderly population. Unemployment benefits exist but have limited coverage for formal sector workers.
Banking & Financial Safety
Deposits are protected up to ARS 6 million (approximately USD 4,260) per depositor per financial institution under the Deposit Guarantee Scheme (SEDESA). Argentina is compliant with Basel III banking standards and is a member of FATF, though its AML/CFT effectiveness was noted to have shortcomings in a December 2024 report.
Deposit Protection: up to $4,260 USD (see sources)More Insights for your Move to Argentina
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