Young professionals are leaving Argentina in droves due to a variety of reasons, including high annual inflation, loss of purchasing power and lack of economic stability.
The inflationary crisis that is plaguing the country, with an inflation rate above 100% in 2023, has led many Argentines to seek opportunities elsewhere, especially in Europe.
Current exodus of Argentines could be greater than that seen in the 2001 crisis
The current exodus of Argentines may be greater than that seen during the 2001 economic crisis. Although there are no official statistics on the number of emigrants, data obtained from the National Directorate of Migrations indicate that between September 2020 and June 2021 around 60 thousand people emigrated from the country, corresponding to approximately 200 emigrants per day.
The current migratory phenomenon is characterized by the exodus of highly qualified young professionals, which represents a considerable loss for Argentina.
Unlike emigration during the 2001 crisis, current emigrants are better prepared, both logistically and economically, to start a new life in another country.
Many of them have Italian citizenship - 903.081 people, according to the Italian government – and are seeking opportunities in countries such as Spain, Paraguay, Brazil, Chile, Uruguay and the United States.
The reasons for leaving the country vary, but include a lack of hope for an improvement in the economic and social situation in Argentina, increasing poverty and concern about the future, especially for their children.
Many Argentines also mention the exhaustion of dealing with deteriorating economic conditions over the years, the difficulty in paying rent and the lack of prospects for professional growth. (With information from BBC)
