Argentina's economy is grappling with severe inflation, leading to a decline in tourism and foreign investment. Inflation rates have skyrocketed from 104% to an alarming 288% since March last year, causing tourists to seek more affordable destinations.

The country, once a popular destination for budget-conscious travelers, has experienced a significant drop in tourist arrivals. Foreigners are deterred by the economic instability and high costs, while Argentines are increasingly crossing the border into Chile to escape the financial crisis.

Under Milei's leadership, Argentina has seen significant changes in its economy. Since his inauguration in December, Milei has implemented policies that have significantly impacted the country's financial landscape, including a 54% devaluation of the currency to stabilize the economy.

The devaluation, however, has made Argentina less appealing to foreign visitors, leading to a decline in travel bookings from neighboring countries like Uruguay. The country's supermarkets have also imposed limits on purchases due to the surge in demand from shoppers.

The decline in foreign spending could widen the tourism deficit, which already exceeded $1.2 billion last year. The situation is further complicated by competitive pressures from other South American destinations like Brazil, which offers appealing weather and beaches.

Amidst these challenges, Milei met with Elon Musk in Texas for a strategic discussion on market liberalization and reducing bureaucratic hurdles to attract investments, particularly in Argentina's lithium sector. The meeting was also aimed at fostering potential Tesla investments in Argentina, which has one of the world's largest lithium reserves.

Milei's interaction with Musk is part of his broader engagement with international leaders and influencers, positioning himself as a defender of free market policies on various global platforms. He has actively sought alliances with global right-wing figures and business tycoons to attract foreign investments and support his economic policies.

Milei's administration celebrates these connections as victories for Argentina, hoping to draw attention and investment to the country. His active presence on social media platforms, especially Musk's X, shows his commitment to these ideals, including his recent support for Israel alongside Musk.