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Economy

Argentina's Currency Restrictions Squeeze Latin American Tourism

EL OBSERVADOR (Uruguay) CLARIN (Argentina)



Worldcrunch

MONTEVIDEO - As the Southern Hemisphere’s summer vacation season approaches, the tourism industry in Uruguay is already sweating Argentina’s new restrictions on changing money to dollars and using it for travel abroad.

The Association of Hotels and Restaurants of Uruguay has taken extra steps to attract Argentines, including publishing a list of prices to stress that Uruguay is often a cheaper destination than Argentina, El Observador reports.

Uruguayan hoteliers are worried that Argentines will think that Uruguay is more expensive because of the new currency restrictions.

Uruguay’s first lady weighed in, saying that the restrictions are “very worrying.” She said that in spite of the restrictions, many Argentines visit Uruguay because they like spending summer there and they will make an effort to make sure they can make the visit happen, Clarin reports.

She also noted that the number of Argentine tourists in Uruguay has decreased, but not in an alarming way.

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Economy

Soft Power Or Sportwashing? What's Driving The Mega Saudi Image Makeover Play

Saudi Arabia suddenly now leads the world in golf, continues to attract top European soccer stars, and invests in culture and entertainment... Its "soft power" strategy is changing the kingdom's image through what critics bash as blatant "sportwashing."

Footballer Karim Benzema, in his Real Madrid kit

Karim Benzema during a football match at Santiago Bernabeu stadium on June 04, 2023, in Madrid, Spain.

Pierre Haski

-Analysis-

PARIS — A major announcement this week caused quite a stir in the world of professional golf. It wouldn't belong in the politics section were it not for the role played by Saudi Arabia. The three competing world circuits have announced their merger, putting an end to the "civil war" in the world of pro golf.

The Chairman of the new entity is Yassir Al-Rumayan, head of the Saudi Arabian Public Investment Fund. Add to this the fact that one of the major players in the world of golf is Donald Trump – three of the biggest tournaments are held on golf courses he owns – and it's easy to see what's at stake.

In the same week, we learned that two leading French footballers, Karim Benzema and N'Golo Kanté, were to join Saudi club Al-Ittihad, also owned by the Saudi sovereign wealth fund. The amount of the transfer is not known, but it is sure to be substantial. There, they will join other soccer stars such as Cristiano Ronaldo.

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