300 Restaurants have closed in recent months

[sergio]

La Nacion reports that 300 restaurants have closed in recent months due to the economic situation:
http://www.lanacion.com.ar/nota.asp?nota_id=1087876
Are expats eating out less?

 

[tangobob]

I think some come, some go, it is just a cycle. Lo te amaso closed on Honduras last year, now there is an Indian there.
The restaurant on Salguero and Corrientes closed in the winter, another that I noticed, I suspect that they have annoyed all their customers as every time I went in there, there was a porblem with the bill.
All my favourite places seem to be doing well, no different to anywhere else really, give good service and the customers return, give bad service and the business folds.

 

[Stanexpat]

La Nacion reports that 300 restaurants have closed in recent months due to the economic situation:
http://www.lanacion.com.ar/nota.asp?nota_id=1087876
Are expats eating out less?

According to the article its a reflection in the overall slowdown in the economy. However since fewer people are arriving in B.A. from overseas (both tourists and potential expats) I would guess the answer to your question is yes.

 

[steveinbsas]

I have walked extensively through El Centro, Retiro, and Recoleta in the past week. Only a few restaurants have closed their doors. There are a few retail spaces that are available, but by no means an alarming number. It's "that time of year" anyway.

Way back in July, well before the current economic "crisis" began to unfold, Starbucks announced the closing of 600 of its retail outlets in the US.

I guess that tells us that people in the US are drinking less coffee?

(not necessarily)

It looks like the "next" economic crisis that some have been predicting for Argentina in the past year has hit the US even harder than here.

Who woulda thunk it?

Certainly not an ex-expat who still opines that life here is (and will always be) worse than in the US.

If you live in the US, be prepared for additional massive layoffs and a depressed economy. (Now do I sound like him ranting about how bad it is in Argentina?)

There might ALSO be rate hikes for public transportation, even in Chicago.

Oh, that just happened....today.

From the Suntimes: http://www.suntimes.com/news/transportation/1352710,CST-NWS-ride29.article

"Fare hikes on the CTA and Pace will hit Thursday, with single-fare rides going up as much as 50 cents on the L.
Both agencies claimed budget problems made the hikes necessary. The CTA cited higher operating costs, lower-than-expected tax revenues and the need to provide free rides to seniors and the low-income disabled.
The cash fare for rail and bus on the CTA will increase to $2.25 from $2. For customers using a transit or Chicago Card, bus fares will rise to $2 from $1.75."

How much is a subway fare here now?

How much are property taxes?

How much is a liter of beer?

And so on and so forth.

Life IS good (here).

It really is.

 

[bigbadwolf]

Way back in July, well before the current economic "crisis" began to unfold, Starbucks announced the closing of 600 of its retail outlets in the US.

Not commenting on the rest of your post (which I agree with), but the crisis predates July 2008. The Starbuck closures are probably related to it.

 

[steveinbsas]

Not commenting on the rest of your post (which I agree with), but the crisis predates July 2008. The Starbuck closures are probably related to it.

Perhaps I should have used the term "explode" rather than "unfold"....referring to the events of September-October in the banking sector.

 

[mini]

I'm not sure Starbuck's closing have too much to do with 'the crisis.' I think it has more to do with over expansion in certain markets. In other markets, they are still expanding.

 

[bigbadwolf]

I'm not sure Starbuck's closing have too much to do with 'the crisis.' I think it has more to do with over expansion in certain markets. In other markets, they are still expanding.

It becomes "over-expansion" precisely because the US market isn't as buoyant as sanguine estimates had made it. And of course not just Starbucks has been adversely affected: it's across the board, and for chains that weren't expanding at all.

Offhand, the only item I can think of whose sales have increased in the US during the last year is spam. And pawnbrokers are doing roaring business.

 

[tangobob]

How much is a subway fare here now?

How much are property taxes?

How much is a liter of beer?

And so on and so forth.

Life IS good (here).

It really is.

Oh Steve, now you have gone and ruined it. I am stuck by work commitments to my longest period away since I first visited. All the negative posts were making me miss BsAs less, now you tell me again how good it is, boohoo

 

[mini]

It becomes "over-expansion" precisely because the US market isn't as buoyant as sangine estimates had made it. And of course not just Starbucks has been adversely affected: it's across the board, and for chains that weren't expanding at all.

Over expansion is not always due to a bad market. Over expansion is when a company starts eating into it's own business, ie. the market just can't support ANOTHER Starbuck's on the fourth corner of an intersection. AFAIR, Starbuck's was already shrinking in the US (over saturated market) and opening up move stores 'abroad' (un saturated market) before this 'crisis'.