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Despite Crisis Foreign Tourism Spending Grows 19% in Brazil

Brazilian hotel in BrasÀ­lia Thanks to an inflow of US$ 478 million last month, the accumulated result of tourist spending this year so far is 19.01% higher than in the same period of 2007 and is nearly equal to the total inflow in all of 2007.

According to figures disclosed this Monday, November 24, by the Central Bank of Brazil (BC), US$ 478 million in expenditures by foreign tourists entered the country's economy in October. The figure, which is 9.78% higher than the US$ 436 million recorded in the same month last year, is the best for a month of October ever since the series started being recorded.

The figures show that the accumulated result from January to October 2008 has reached US$ 4.813 billion. The volume is 19.01% higher than foreign tourist expenditures in the same period of 2007 (US$ 4.044 billion).

To the president at the Brazilian Tourism Institute (Embratur), Jeanine Pires, the growth of spending by foreign tourists in Brazil, even in a month in which the other sectors of the economy are already feeling the impact of the global crisis, is proof of the sector's potential within the Brazilian economy.

"Brazil had an increase of 10% in revenues from international tourism, and that leads us to bet on a good final result for 2008," she says.

Should the monthly rate of entry of funds by means of foreign tourist expenditures be maintained this year, the annual revenue from tourism for 2008 may reach US$ 5.7 billion.

In case that figure is confirmed, then the performance in 2008 will be the best ever recorded since the figures started being recorded, in 1969, surpassing the US$ 4.953 billion recorded in 2007 – the best year so far.

Events

Brazil is the only Latin American country among the 10 nations in the world that promote most international events. According to the International Congress and Convention Association (ICCA), the most important international organization in the sector, in 2007 Brazil was in the eight position in the global ranking, with 209 international events.

In the Americas, Brazil only loses to the United States. Since 2003, when there were 62 events and the country was in the 19th position in the ranking, the country has climbed eleven rungs. After becoming a reference in this sector, the country has been attracting the attention of neighboring markets.

Earlier this year, the Brazilian Tourism Institute (Embratur) was invited to share its experiences for the support of attraction of events and promotion of foreign events during the Expoeventos 2008, which took place in Buenos Aires, Argentina

At the meeting, which brought together the countries in the region, the Business Tourism and Event director at Embratur, Marcelo Pedroso, spoke about the institute's strategies that have contributed to consolidation of Brazil as a leader in the sector in Latin America.

Among the experiences, the director spoke about the importance of making use of the visit of event tourists to offer them alternative routes and services, so that they may spend a few more days in the country.

According to Pedroso, expectations after the event are for the Brazilian Association of Event Companies and the Argentine Association of Organizers and Promoters of Exhibitions and Events to sign an agreement for technical cooperation to promote the exchange of specific information in the sectors they operate.

"The Associations plan to elaborate a joint work plan. This will be an important step for Latin America to be integrated and to occupy more space on the global scenery," stated the director.

Anba

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  • Show Comments (2)

  • mcv

    in the other side…on the swiisss……
    The Oslo Stock Exhange was yesterday down 9,71 percent, while the Stockholm and Finnish exchanges were down respectively 7,1 and 8,4 percent. In Iceland, the national economy is on the verge of bankruptcy following the countryˢ۪s bank collapse.
    Yesterday was the third worst day ever for the Oslo Exchange, E24.no reports. Meanwhile, companies like the national pride StatoilHydro fell as much as 6,8 percent.

    In Stockholm, the stock exchange dropped 7,1 percent, which is the worst since September 11 2001, E24.se reports. In Helsinki the situation was no better with a 8,4 percent drop.
    is that thru????ch.c may not like us knowing about his land?!!!

    In Iceland, the whole national economy now is on the verge of total collapse. The national government might now be force to take over practically the whole banking sector. However, that might be more than the little state could bear, thus putting the whole economy on the verge of bankruptcy.

    God bless Iceland, PM Geir Haarde told the nation in a crisis speech last night. 😮

  • ch.c.

    Yeahhhhhh !!!!!
    You got in fact a very slow growth rate AT BEST in Brl currency !
    Because the average Brl rate of the first 10 months of 2007 was higher than in 2008 !

    THAT IS WHY THE ARTICLE DOESNT STATE AT ALL the revenues comparisons in…..Brazilian Currency !!!
    Proof that your stats are usually manipulated…when your Disinformation & Propaganda Dept at the Planalto Palacio next to Lula office decide to chose their “magical” rosy stats and maths !!!!!!

    Hiders always hide ! Manipulators always manipulate until their stats can hide the darker truth !
    If necessary they even change their methodology…just as you did in early 2007…when you applied your new Methodological Tricks in your GDP growth rate, which of course changed also your previous years economic growth rates.

    Surprised ? Not me !
    😀 😉

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