There is a community of Americans living in Argentina consisting of immigrants and expatriates from the United States as well as their local born descendants. There are roughly about 60,000 Americans living in the country and 26,000 of them live in the capital city, Buenos Aires.[better source needed]
From 2002 to 2003, many Americans migrated to Argentina when the country suddenly became comparatively inexpensive thus it became a cheap place to live in.
Immigration from the United States increased further after the financial crisis of 2007 to 2008 as many Americans fled the crisis-ridden United States to escape to Argentina. A few interviews and immigration data shows a 12% increase in the number of Americans (742) who applied for permanent residency in 2008.