Buenos Aires takes this year's crown, with rates that are set to jump by 17% year over year, according to the Hotel Monitor 2024 report from American Express Global Business Travel released Thursday. It examines how hotel prices are fluctuating in more than 80 cities around the world, with forecasts based on criteria such as currently listed prices, broader macroeconomic trends, hotel pipelines and historic data.
Hotel prices reflect much more than a destination's current popularity with travelers. In the Argentina capital, rates are largely being driven by the country's ongoing hyperinflation crisis, which in September reached its worst levels since 1991. (Notably, the Amex study calculates rate hikes in the local currency.) In other words, the rising prices in Buenos Aires are still likely to translate to deep savings for most anyone visiting from abroad.
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