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Argentina is hardly a model of economic success. Formerly one of the world’s richest nations, decades of mismanagement and corruption have made it an example of how not to manage oil, farmland, the middle classes, government, just about anything.

This wouldn’t really matter to tourists, except that prices rise and fall from year to year and right now, Buenos Aires (or BA as it is known) is in one of its pricey phases. Hotel room rates are high, food is not cheap – and downright expensive in smart places. Taxis are a luxury.

I’ve been zipping back and forth between the UK and the Argentine capital since 2001. Here is my suggestion for a week in Buenos Aires.

Airport transfers – $42.35

Between the airport and the glitzy Puerto Madero district, the Manuel Tienda Leon bus (tiendaleon.com) costs 480 pesos (AR$) or $32.87 return; allow more money for local taxi to/from hotel.

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Accommodation – $431

Six nights in a double room with en suite bathroom at the centrally located Recoleta Hostel (hirecoleta.com.ar), accredited by Hostelling International.

Public transport for a week pounds – $15.38

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A Sube card, comparable with the Oyster in London, costs AR$25 ($1.71) and is available at underground (subte) stations, at tourist information centres and at many kioskos (holes in the wall and shops selling confectionery and tobacco) throughout the city. Cards can be charged with credit at all subte stations, national lottery outlets, and at kioskos with automated terminals. Load the card with AR$200 and you’ll get more than 20 journeys on bus, subte or local train.

Birdwatching and fresh air – free

Walk off your jet lag at the 860-acre Reserva Ecologica Costanera Sur, just east of Puerto Madero.

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Bike hire for a day – $23.94

Che Bikes (chebikes.com) charges AR$350 to ride from Palermo to La Boca, the old port district.

Guided tour – $18.99

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A guided tour of posh Recoleta, including the Colon opera house and the famous cemetery, is free, but tips should be in the region of AR$280. See buenosairesfreewalks.com and bafreetour.com for more information.

Day trip 1 – $15.72

The train to Tigre departs from Retiro station on the “Mitre” line every 15 minutes. Journey time: 1 hour. Your Sube card covers the trip. There’s a good naval museum (AR$20) here and a quirky museum devoted to yerba mate (AR$60), the bitter green tea Argentines sip whenever the chance arises. To see the Tigre delta, skip the touristy services and get a return on one of the inter-island colectivo services (lacolectivadeldelta.com.ar) to Rio Sarmiento for AR$150.

Cheap eats for a week – $398.86

Avoid the smart listed cafes and head for any old corner for breakfast: you can get a cafe con leche and three medialunas (sweet croissants) for less than $4; almost all caffs have free Wi-Fi. The “asado” (barbecue) and “parrilla” (grill restaurant) are the twin temples of the Argentine religion of cow consumption. A slap-up steak lunch or dinner could easily cost two people $133. But at less trendy areas such as the corner of Alvarez Thomas and Avenida de los Incas, you can find neighbourhood parrillas where you can eat for a fraction of the price. You can also get cheap meals and robust red wine by the litre at neighbourhood social clubs such as Club Eros, Estrella de Maldonado and Villa Malcolm. Pizzas, takeaway empanadas, milanesa (schnitzel) sandwiches and streetside BBQs are also good options. See the website of Antigourmet for ideas and a map: antigourmet.com.ar/mapa-de-bodegones-y-afines.

Day trip 2 (Sunday only) – $20.12

Catch the No.55 bus from your hostel to the Feria de Mataderos (country-style fete) on a Sunday to see a bric-a-brac market, live folk music and dancing, and gaucho horsemanship. Have a choripan (sausage sandwich) and a craft beer for lunch, costing about $13. Follow this with some free sightseeing: visit the huge Chacarita cemetery (where legendary tango crooner Carlos Gardel is buried), Palermo park, Plaza San Martin and Villa Crespo with its street art, mapped by Google at streetart.withgoogle.com/en). Of the public art galleries, don’t miss the Museo de Arte Moderno (buenosaires.gob.ar/museoarte moderno; entry AR$30) and neighbouring Museo de Arte Contemporaneo (macba.com.ar; AR$70), together costing around $6.83.

Day out in the city – $28.48

First, go for a swim and sunbathe. Parque Norte (parquenorte.com) is a large pool club open to visitors. In the sweltering summer months, it’s an ideal family hideaway, with three big pools and a shallow one for smaller children. Loungers and sun-brollies cost extra (adult AR$195); two parents and two children AR$560). Food such as burgers, hot dogs and salads, as well as beers and soft drinks, are cheap; budget for around $15. Catch bus no.75 then 45 to get there.

Culture – free

All activities in the CCK or Centro Cultural Kirchner (cck.gob.ar), including art shows and live music, are free. To collect tickets (two per person), go to the main hall on Sarmiento 151 at noon, between Thursday and Sunday. The cultural centre is in the grand old Post Office and it’s worth doing the free one-and-a-half hour guided tour if your Spanish is up to it.

Sport – $13.67

Why not watch a no-frills football match? Avoid the likes of Boca Juniors and River Plate and go to the more local Club Atletico Platense to see the “Squids” play other teams in the B-division. Entry from AR$200.

TOTAL FOR THE WEEK just over $1000

(Or less than a night in a deluxe suite at the Alvear Palace hotel.)

More money-saving tips

1. Avoid ATMs – you’ll get fleeced even if you’re only withdrawing a small amount, and that’s before you see the exchange rates and your own bank’s charges.

2. The Sube public transport card is now used in provincial cities; ideal if you’re heading off for the interior.

3. Long-distance buses are cheaper than flights and comfortable, some coming equipped with beds.

4. If you go shopping, look out for Global Blue stickers in windows and claim back 21 per cent VAT at the airport before you leave; no VAT is due on purchases over AR$70 ($4.79) See globalblue.com for more information.

5. Don’t rule out camping. Campsites around Argentina are comparable with those of France, with power points, good WCs and showers, and are very family-friendly.

Source: stuff.co.nz