By North American and European standards, the cost of living is very low in Argentina. According to a global cost of living survey for expatriates conducted by UBS, the average cost of a basket of products and services in Buenos Aires is 45 percent of the cost of the same basket in New York, the most expensive city for expatriates in the Americas.

For those who don't receive their salary from abroad, wage levels are very low in Argentina. Average net wages in Argentina are roughly one fifth of wages in New York. In spite of the low cost of living, low salaries make the average purchasing power of employees in Buenos Aires only 48.7 percent of the purchasing power of employees in New York. However, Buenos Aires has the second highest domestic purchasing power in South and Central America, behind only Manama, Nicaragua.