Formosa is the capital city of the Argentine province of Formosa, on the banks of the Paraguay River, about 1,200 km (746 mi) from Buenos Aires. Formosa is the hub of the provincial industry, that processes the product of its natural resources. The port that serves the Paraguay towards the Paraná River is the main transport means for the provincial production.
The name of the city (and the province) comes from the archaic Spanish word fermosa (currently hermosa) meaning "beautiful".
The city, which is only a few hundred meters away from Paraguay across the river, has a culture closer to that of Paraguay than the "porteño" culture of Buenos Aires. Laid back and relaxed, its young people relax on the Costanera, the recently restored pathway along the Río Paraguay which serves as a venue for arts displays and features a fast-food restaurant, or at boliches, local clubs. The city's well-known cultural institutions include the Formosa Regional Historical Museum, the Juan Pablo Duffard Historical Museum (a National Historic Monument), the Qomp Toba Artisanal Museum, and the Oscar Albertazzi Arts Institute.
The city has, since the 1970s, enjoyed increasing domestic tourism as a winter destination and, since the devaluation of the peso in 2002, growing international tourism, as well. Formosa is currently home to one five-star hotel (the International Tourist Hotel) and four four-star hotels. One other five-star establishment, the Neo Formosa, is now under construction and will feature a casino and shopping gallery.