Argentinas president unveils plan to boost tourism

The president of Argentina has announced plans to stimulate the domestic tourism sector, which could entice property investors to expand their portfolio in the Latin American country.

Following hot on the heels of a package to help consumers, farmers and businesses selling products abroad, president Cristina Fernandez spoke on Thursday (December 11th) of a strategy to support domestic tourism through the supply of no-interest loans, Reuters reports.

Some ARS300 million will be made available in interest-free loans, and both businesses in the tourism sector and Argentinean holidaymakers will be able to draw on this governmental support.

The loans period would last for six months.

According to President Fernandez, action is needed if the global economic turmoil's impact on Argentina is to be minimised.

"The important thing is to know there are measures that will help all Argentines confront the storm clouds that are coming," she told the news provider.

Ms Fernandez was elected as president in October 2007, and is the wife of former Argentina president Nestor Kirchner.

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