Mar Del Plata - Economy

Economy

As part of the Argentine recreational coast, tourism is Mar del Plata's main economic activity with seven million tourists visiting the city in 2006. Mar del Plata has a sophisticated tourist infrastructure with numerous hotels, restaurants, casinos, theatres and other tourist attractions. Mar del Plata is also an important sports centre with a multi-purpose Olympic style stadium (first used for the 1978 World Cup and later upgraded for the 1995 Pan American Games), 5 golf courses and many other facilities.

As an important fishing port, industry concentrates on fish processing and at least two large shipyards.

The area is also host to other light industry, such as textile, food manufacturing and polymers. There is a well-developed packaging machines industry, its quality being recognized in international markets. One of these companies was one of the pioneers in the automatic packaging of tea bags, exporting its original machine-designs abroad. Another company also exports its products and sold royalties to other countries.

During the mid 1980s, Mar del Plata saw the birth of electronics factories, focused mostly on the telecommunications field, with two of them succeeding in the international market.

Since the 2000s, a local company builds and develops oil industry equipment, with customers in the United States, Russia, Oman and Egypt.

Located southwest of the city there are quartzite quarries. The stone is traditionally used in construction. There is a huge area of farms in the rural areas surrounding the city, specialized mostly in the cultivation of vegetables.

Although the area had suffered from a high rate of unemployment from 1995 to 2003, Mar del Plata has seen 46,000 new jobs created from the third quarter of 2003 to the third quarter of 2008, representing an increase of 22%.

The 2008 Davis Cup Final was held in Mar del Plata and, after being shut for a decade the Gran Hotel Provincial (one of the largest hotels in Argentina) was reopened by the Madrid-based NH Hotels, in 2009.

Mar del Plata continues to lead Argentina's room availability: of 440,000 registered hotel rooms nationwide in early 2009, the city was home to nearly 56,000 (5,000 more than Buenos Aires).