Summary. Flights from the US to Southern South America are expensive due to scheduling difficulties. Some airlines have adjusted flight schedules to reduce idle time, but this can lead to inconvenient arrival times for travelers.
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For UK visitors (and a lot of Western tourists), Argentina is a relatively cheap destination. Yes, it has its share of full-service, 5-star places, but an average tourist can stay and eat out quite cheaply. Generally it's around Spain/Portugal level, and eating out is cheaper (like steak with wine for £10).