Yesterday, Argentina held a midterm election in which Javier Milei’s party, La Libertad Avanza, scored a landslide victory, even defeating the Peronists in their stronghold of Buenos Aires.

This result likely secures Milei the seats he needs to push through more of his libertarian agenda, after months of legislative vetoes that blocked much of his reforms.

But this is more than just a political win for Milei; it’s further proof that the tide is turning in Latin America, away from its socialist past and toward a future of freedom. 

For decades, Argentina was a textbook case of what not to do: bloated bureaucracy, runaway inflation, and the endless “we’ll fix it next election” lie.

The election of Javier Milei two years ago, coupled with yesterday’s vote, shows that freedom is continuing to spread not just in Argentina but throughout Latin America. 

Just a week ago, the citizens of Bolivia also rejected socialism with the election of Rodrigo Paz Pereira. 

When my team and I came up with the tagline for this year’s Expat Money Online Summit, “The Future is Latin America”, it wasn’t an empty slogan. 

There is simply no region on this Earth that is more rapidly embracing free-market and pro-business policies. 

This is one of the main benefits of living here in Panama: I get to be at the center of this massive transformation.

As far as Argentina goes, I imagine this will only add to the number of people who ask me about the country as a Plan-B destination.

While this election is encouraging, Argentina still has deep structural issues to fix before it becomes truly expat-friendly.

As I’ve written before, I’m cautiously optimistic, but not yet recommending Argentina as a residency destination.

That said, Argentina’s forthcoming Citizenship by Investment program is enticing for its passport value alone.

If the country continues to move in a free market direction, I could easily see my stance on residency changing in the years to come. 

Right now, the smarter move is to plant a flag in proven, expat-friendly jurisdictions like Panama or Paraguay, maybe even consider the CBI when it becomes available, and keep an eye on things as they unfold.

While much of the Western world faces governments that overspend and tax their citizens to death, those of us here in Latin America are watching a very different story unfold: one of opportunity, growth, and freedom.

I hope you’ll come join us. 

Speak soon,

Mikkel

PS. If you’ve been looking for the opportunity to experience Latin America for yourself, join me and a small, freedom-minded group for our upcoming exploration and investment tour in Colombia, in just over a month. This is a country I’ve been visiting and investing in for years, and I can’t wait to show the Expat Money community what I've seen firsthand: that Colombia is on the rise and has a place in any serious discussion of a Latin American Plan-B. I hope to see you there.

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