money & economicsOur World in Data1900s · Buenos Aires, Argentina
Argentina ranked among the world's richest countries in the early 1900s
In the early 1900s Argentina was one of the richest countries in the world by income per person. Its economy boomed on exports of beef, wheat and maize to Britain and Europe, financed by British investment and fuelled by immigration from Italy and Spain. Buenos Aires built grand boulevards and opera houses, including the Teatro Colón, which opened in 1908, so the city came to look much like Paris. Later, economic shocks, political instability and policy choices reduced the country's relative standing, and its income today is closer to Colombia's than to France's.
Argentina's path shows that a country's ranking can change dramatically within a century, which is a warning against assuming current wealth is permanent. It is a useful lesson in how economic history shapes the present.
The Teatro Colón opened in 1908 and is counted among the great opera houses of the world.
