Asunción, Paraguay – Paraguay's tourism market is experiencing an unprecedented boom, fueled by a dramatic increase in Argentine tourists. According to a first-quarter report released by financial payment processor Bancard, foreign tourist spending in Paraguay surged by an astounding 73% in March compared to the same month last year, marking an all-time high. The primary driver of this remarkable growth is attributed to the massive influx of tourists from Argentina.

The report indicates that Argentine tourists increased their spending sixfold compared to March 2024, accounting for a dominant 35% of total foreign tourist expenditure. Their primary purchases include electronics, clothing, and groceries, with particularly active spending in stores, supermarkets, and electronics retailers.

Following Argentina, Brazilian tourists constituted the second-largest share of foreign spending at 22%. Additionally, increased visits from tourists of various nationalities, including the United States, Germany, and Spain, demonstrate a diversification trend in Paraguay's tourism market.

Eighty percent of the spending by Argentine and Brazilian tourists was concentrated in Paraguay's major commercial hubs, Asunción and Ciudad del Este. These two cities have solidified their positions as key shopping tourism destinations for foreign visitors seeking affordable prices and strong purchasing power.

This phenomenon is attributed to a combination of economic factors. In Argentina, the recent liberalization of the exchange rate market and an unexpected strengthening of the peso have significantly boosted the purchasing power of Argentine citizens. Furthermore, Argentina's high annual inflation rate (55%) contrasts sharply with Paraguay's much lower inflation rate (4.4%), further enhancing the price competitiveness of Paraguayan goods.

Bancard stated in its report, "The combination of a new favorable environment in the Argentine economy and Paraguay's high dollar exchange rate (approximately 8,000 guaraní) has increased the purchasing power of Argentine tourists in Paraguay." The report further projected, "As long as Paraguay maintains its position as an attractive shopping destination with stable and competitive prices, the influx of tourists for shopping purposes is expected to continue."

Remarkable Growth in Online Commerce Sector

Meanwhile, Bancard also reported significant growth in the online commerce sector. Notably, mobility applications emerged as the most dynamic sector with a 35% growth rate, while instant delivery and food delivery marketplaces accounted for a substantial 27% of total transactions. Telecommunications also contributed to online commerce growth with an 11% increase.

Other sectors experiencing active online transactions include event ticket sales (9%), major domestic and international payment platforms (7%), and gas station applications (4%). Steady growth was also observed in online transactions at pharmacies, cosmetic stores, and gas stations.

Bancard emphasized that Paraguay's electronic payment market has shown remarkable growth across various sectors since the beginning of 2025, solidifying the continuous expansion trend of recent years, particularly as it becomes deeply integrated into daily life.

Diversification of Payment Methods Including Credit Cards, Debit Cards, QR Codes, and E-wallets

Consumption through various payment methods such as credit cards, debit cards, QR codes, and e-wallets showed a clear growth trend, increasing by 38% in the first quarter of 2025 compared to the same period last year. This indicates a strengthening trend among Paraguayan consumers away from cash payments towards more convenient and secure electronic payment methods.

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