Buenos Aires is still somewhat of a bargain for foreigners, though it’s not the amazing bargain it was from 2003 through 2008 or so. Still, this is a gorgeous city that feels very European and prices are still a bit lower than they are in, say, Lisbon or Barcelona.
Since 2013, the country has had two exchange rates, with an “official rate” and a “blue rate” that is much higher for those with outside currency. In other words, if you bring in US dollars or Euros you can exchange them for around 12 pesos (as of August, 2014) compared to about 8.2 on the official rate. This is yet another bad sign for the economy going forward.
Hotel prices have crept up through inflation in the past decade but still you get high standard accommodation for good prices, especially if you look outside of the pricey Recoleta neighborhood, and stay away from international chain hotels.
Food is a top attraction here, with arguably the best beef in the world, at amazingly low prices. Even vegetarians should find plenty to make them happy, as the city’s restaurant scene is quite diverse in spite of the general emphasis on beef. Beer remains cheap but local wines are the best bargains, even in nicer restaurants.