Argentina is experiencing its highest annual inflation in three decades, with forecasts tipping it to reach 99.6% by year-end and remain over 100% in H1 CY23 – but for many cash-strapped Argentines, forking out to travel to the football World Cup in Qatar remains their top priority.

One such countryman is Emiliano Matrangolo, 39, a business graduate putting his financial goals aside and his future on the line to fly to the Middle East to cheer on his team, led by arguably the greatest footballer of all time, Lionel Messi.

“It’s four years of savings – saving some money every month for this dream, come what may. You stop doing things like buying a car or buying a house,” Mr Matrangolo told reporters at a barbecue for 300 Argentine fans ahead of travelling to Qatar.

“It’s a dream, it’s an infatuation. Many people say, ‘look, he spends the money to go to Qatar instead of having 5% of a house’. Well, I’m sure a house is nice but I’m going to the World Cup.”

On a run of 35 games unbeaten (and closing in on Italy’s world record streak of 37), Argentina is heading into this year’s tournament as one of the favourites. The South American nation has previously won the World Cup twice, in 1978 and again in 1986 with icon Diego Maradona.

Mr Matrangolo’s passion for ‘the world game’ – to the point of sacrificing personal financial stability at a time when his country is suffering a sluggish economy, rocketing inflation and currency controls that push up the price of overseas travel – is far from an isolated case.

Self-employed worker Jonatan Luna, 32, acknowledged that Argentina is “going through a moment of crisis, where everything increases in price every month”.

“But one night I sat down and decided to go to the World Cup because I love the national team. I follow them everywhere in Argentina. It’s my first World Cup and it brought tears to my eyes when I made up my mind,” Mr Luna said.

“I know that when I come back I will have the best memories of my life … it could be that I am renting all my life, but I don’t care; we have to go to support the team.”

Host nation Qatar has also opened its wallet wide in relation to the prestigious event.

While Germany spent US$4.3 billion to host its World Cup in 2006, estimates suggest Qatar has coughed up more than 50 times that amount – a whopping US$220 billion in the past 12 years – to get its stadiums and infrastructure up to scratch.

The 2022 World Cup kicks off on the evening of Monday 21st November (Australian time).

Sources:

• Bloomberg, Argentina Inflation Rate to Hit 100% by End of 2022, EcoGo Says
• Reuters, Argentines forsake buying homes to see Messi play in World Cup
• Statista, World Cup in Qatar: The Most Expensive Ever
• The Roar, 2022 FIFA World Cup schedule: Start times for every match in Australian time
• The Stats Zone, Argentina Closing In On Italy’s International Unbeaten Streak Record