Buenos Aires, Argentina » City Info » Economy

Buenos Aires is one of the largest cities In Latin America. Also, it ranks as the leading financial, industrial, commercial, and cultural hub of the region. The port of Buenos Aires has historical importance. So the people of Buenos Aires city are called portenos (people of the port). Today, this port is one of the busiest ports in South America. The sea-trade activities of a large part of the south-eastern region of South America depend on this port, as it is well connected with north-east Argentina, Brazil, Uruguay, and Paraguay by the rivers that flow through the Rio de la Plata.

The agriculture sector also plays a vital role in the economy of the city. The Pampa Humeda situated to the west of Buenos Aires is famous as the most productive agricultural region of the country. Various products such as meat, dairy, grain, tobacco, wool, and leather are manufactured or processed in the Buenos Aires metro area.

The city is a hub for food-processing businesses that comprise huge meatpacking and refrigeration plants and flour mills. Also, it is well known as the most heavily industrialized city in the country. Some important industries of the city include automobile manufacturing, oil refining, metalworking, machine-building, and the production of textiles, chemicals, clothing, and beverages.

Due to the changes in the world’s economy, the economic profile of Buenos Aires is going through a deep transformation. The economy is gradually diverting from a strongly industrialized base to service and technology-oriented activities. This diversified and well-developed service sector of the city shares 78% of its total economy. This sector has got international standards and always recommended by businessmen from all over the world. Advertising, manufacturing, agriculture, and some other industrial sectors also have a prominent position in the city’s economy.

In the early years, the local communities earned some money through the tourism business. Nowadays, tourism has also got its importance, as Buenos Aires has become a premier tourist destination in Latin America. It is the starting point for the tours to the rest of the country and every year, the city is visited by a large number of tourists from all over the world.