Buenos Aires - Argentina

There is a rumor going around that Buenos Aires either is, or is about to become, the new Prague. By this its boosters mean a city that is rapidly being discovered by a certain segment of the world's young, and not only those backpacking youth interested in finding love and adventure in a context of faded, old world opulence.
Well, nothing is quite like Prague, and similarly nothing is quite like Buenos Aires. But there are points of useful similarity between the two cities. Just as Prague was reborn after being brutalized for almost half a century by communist occupation, so the entire economy of Argentina collapsed in late 2001, after an inflation of nearly five years — a fall so devastating it has been compared to the Great Depression.
After coming out on the other side of their respective cataclysms, both cities, giddy with a sense of liberation, have burst into life as centers of culture and commerce. Moreover, just as Prague was delightfully cheap 15 years ago, so now Buenos Aires is consistently ranked as one of the least expensive cities in the world.

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