The country still has a number of strategic, bureaucratic and cultural problems which need to be overcome.
Argentina has made significant economic progress since the disastrous period which culminated in a massive IMF bailout of the country in 2003. Since then the country has seen significant year on year GDP growth, a stabilisation of the currency and rapidly improving living standards for many (not all) of the population.
By seeming to have finally put an end to decades of political and social instability, Argentinians hope for a brighter economic future for a country which has the potential to be one of the success stories of a resurgent South America.
This is not to say that developing business in Argentina will be easy. The country still has a number of strategic, bureaucratic and cultural problems which need to be overcome by any outsiders who wish to develop fruitful long-term business interests in the country.
There are probably two key issues which need to be assimilated at an early stage. Firstly, with a history of turmoil and unrest, Argentinians are happiest when focusing on ‘quick wins’ and short-term business interests. It has always been difficult to plan long-term in a country where tomorrow is uncertain. Secondly, personal relationships have always been of enormous importance in business dealings. Governments may come and go, inflation may be raging and therefore the only things that could traditionally be relied upon were the strengths inherent in good, stable long-term relationships – and this legacy persists today.