Real Talk by Curtis Tan

The contrast between Buenos Aires (B.A.) and Montevideo is night and day. While both cities have many similarities (late nightlife hours, brown coastal water, limited shopping selection, outrageous platform shoes, and amazing street art), the lifestyle in B.A. is not much different than living in San Francisco, Los Angeles or New York. The cost of living is quite high, you can always find something to do and there’s actually a decent amount of expats and Asians here. 

Although B.A. is definitely more “Western,” or modern, relative to other Latin American cities, petty crimes targeting tourists are still very common. A few weeks ago at Lollapalooza, someone slashed my backpack from behind with a knife. Luckily for me, the tupperware I brought (for the sandwiches I made) blocked the gash in my bag and prevented any of my valuables (iPhone, wallet and GoPro) from falling out. When I was making my way out of the crowd however, I realized that I wasn’t the only victim as I saw countless people crawling on the floor, in the dark, looking for their belongings. 

Like any other major city in the U.S., there are also certain areas that can be more dangerous than others.  La Boca, one of Argentina’s most popular neighborhoods for tourists to visit, is a prime example. Several people in our program have been robbed during the day and a girl was recently beaten (minor bruises) and then robbed in broad daylight. If anyone plans to visit, I definitely recommend taking a taxi, going with a group and leaving before it gets dark. Despite the above mentioned incidents, as long as you’re aware of your surroundings, B.A. is still a very pleasant city to visit/live in for any expat. 

Most people have probably heard of the mantra “cash is king.” In Argentina, this couldn’t be more true. ATMs in B.A. will run out of cash on a consistent and weekly basis. If you do not withdraw enough cash before a long holiday or weekend, chances are, you will be stuck with the limited amount of cash you have left. During our first week in B.A., someone in our program witnessed the following:

1. A long line formed at an ATM by their apartment.
2. Minutes later, the ATM ran out of cash.
3. The entire ATM line migrated a block down to another ATM.
4. Minutes later, that ATM ran out of cash.
5. The entire ATM line migrated down a few more blocks for another ATM.
6. Minutes later, that ATM ran out of cash, and so on and so on.

While most supermarkets and higher-end cafes/restaurants accept credit card, the majority of small businesses and taxis only accept cash. Therefore, if you’re trying to “ball” on a budget like myself, it always prudent to have adequate cash on hand.

This “cash” mentality has been ingrained into the Argentinian people after decades of fiscal and monetary mismanagement by the government and central bank. In 1975-1991, the country experienced a prolonged period of hyperinflation where the average annual inflation rate was 300%+. At one point in March 1990, inflation even reached 20,000%+. More recently, the country experienced hyperinflation again in 2002 (72%+) and 2014 (40%+). With how quickly the currency depreciates year over year, Argentinians have no choice but to use their cash to 1) buy something now or 2) trade-in their pesos for alternative, more stable currencies.

Imagine in the early 1990s, you walk into a supermarket and the prices for everything are rising so fast that the store clerks don’t even have enough time to stamp new stickers on them. Instead, they just resort to shouting the new prices by the register. And in the meantime, everyone in the store is engaged in a full-on sprint to grab the groceries they need and head for the check-out counter because time really is money. The moment you reach the chicken that you came for and run to the register, the price may have already doubled or tripled.

A good amount of the people in my group (myself included) laughed/chuckled as we listened to our tour guide tell us about his personal story (above). And luckily, he called us out on it because hyperinflation is as real as it gets when it comes to extreme violence, wealth destruction, starvation and poverty. “Yes, a lot of you laugh. You think it’s funny. But trust me, when it happens to you, you don’t laugh.”

Three Shows You Should See in B.A.:

1. Cultural Show – Fuerza Bruta – Friday @ 1130 pm
2. Cultural Show – La Bomba del Tiempo – Monday’s @ 800 pm
3. Tango Show

Other Interesting Tidbits:

1. Since the Argentinian central bank couldn’t keep up with the physical cash demands during recent periods of hyperinflation, they licensed out rights to print their currency to the Brazilian and Chilean central banks. There are currently at least three different versions of the 100-bill, none of which are consistent, but still official.
2. 100-bill is the highest denomination of Argentinian peso. Meant to curve fears of inflation.
3. Not everyone knows Manu Ginobli. Basketball is actually more popular in Montevideo than Buenos Aires. Basketball is only popular in specific suburbs in Argentina.
4. The Chinatown in B.A., otherwise known as Barrio Chino, does not have Chinese bakeries!
5. People that live in the city of B.A. are called porteños, which in Spanish means someone who lives or is from a port city.
6. WiFi is everywhere. There are free public networks across the city and most cafes/restaurants have quality, free WiFi as well.
7. Crocs are very popular here (yes ,the rubber shoes with holes).