Argentina is in Southern South America, bordering the South Atlantic Ocean, between Chile and Uruguay. Buenos Aires is the capital city of Argentina, translated meaning “Land of Silver”.
It is a land of extremes, and boasts the highest literacy rate in South America, the highest point in the Southern Hemisphere – Mount Aconcagua (6,962m) and the lowest point – Laguna del Carbon (-105 m).
You land in Argentina at Airopuerto Internacional Ministro Pistarini, about a 45 minute drive from downtown Buenos Aires.
From the Tigre region with its casino, amusement park and river boat trips, to the famous Boca neighborhood with decorated stucco walls in rainbow colours, tango dancers spinning on cobblestone streets and the roaming musicians competing for attention, Buenos Aires is filled with exciting entertainment.
Buenos Aires has an overall cost of living index, which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Buenos Aires is currently ranked 227 overall, most expensive place in the world for expatriates to live, out of 300 international locations.
Hardship compared to Lyon, France:
Lyon, France is ranked as a minimal hardship location with a hardship premium of 10%. Buenos Aires is ranked as a some hardship location with a hardship index of 20%. The relative difference in hardship premium (i.e. Host Location Premium minus Home Location Premium) is 10%.
Buenos Aires cost of living* compared to Lyon, France:
• Alcohol & Tobacco is more expensive
• Clothing is cheaper
• Communication is more expensive
• Education is cheaper
• Furniture & Appliances is cheaper
• Groceries is cheaper
• Healthcare is cheaper
• Household is cheaper
• Miscellaneous is cheaper
• Personal Care is cheaper
• Recreation & Culture is cheaper
• Restaurants Meals Out and Hotels is cheaper
• Transport is cheaper
*As at 1 April 2011
The SPPP report calculates how much you need to earn in another location to compensate for a higher cost of living, hardship, and the exchange rate, in order to have the same relative spending power and as a result have a similar standard of living as you have in your current location.
The following exchange rates have been used:
5.5940 Argentine Peso (ARS ) to 1 Euro (EUR )
0.1788 Euro (EUR) to 1 Argentine Peso (ARS )
A person would require a salary of 88,151.83 Euro (EUR) which is 493,121.34 Argentine Peso’s (ARS) in Buenos Aires to have the same standard of living as currently enjoyed in Lyon, France on a salary of 100,000.00 Euro (EUR). This salary compensates for the overall cost of living difference of -21,8482%, the hardship difference of 10%, and the exchange rate.
TOTAL of 88,151.83 EUR
x Exchange Rate of 5.5940
= 493,121.34 ARS
For the full cost of living rankings for April 2011 go here