Brazilians Tighten Belts and Skip Overseas Trips

Dearer dollar keeps Brazilian more frugal The appreciation of the American dollar against the Brazilian real brought a reduction in travels abroad for Brazilians. With this, in November, the international travel account (Brazilian revenues from foreign expenses in the country minus expenses of Brazilians abroad) was US$ 128 million negative, whereas in the same period in 2007 the deficit had been greater: US$ 369 million.

This month, up to the 19th, the deficit in the travel account had been US$ 69 million. With this, the Central Bank revised the deficit forecast for this year from US$ 6.2 billion to US$ 5.2 billion and the estimate for next year from US$ 6 billion to US$ 1.5 billion.

"The depreciation of the Brazilian currency caused expenses by Brazilians with trips abroad to drop much," stated the head of the Economic Department at the BC, Altamir Lopes.

In November, expenses totaled US$ 568 million, against US$ 809 million in the same period in 2007. This month, according to preliminary figures, the value dropped even further: having reached US$ 385 million.

Last month, expenses of foreigners in Brazil totaled US$ 440 million, the same as in the same month in 2007. This month, the revenues have dropped to US$ 316 million.

Optimism

Three of every four Brazilians are aware of the international financial crisis, which is considered serious or very serious by 84% of those interviewed for the CNI/Ibope survey.

However, to over half the population of Brazil (56%) the country will be little or not at all affected by it. This evaluation is a reflex of the perception of 43% of those interviewed that the country is more prepared for this crisis than it had been in the previous ones, despite 68% believing that this crisis is as serious or more serious than the previous ones.

According to the special chapter of the opinion poll, 75% of those interviewed knew of the crisis before answering the questionnaire. Another 23% said that the first time they heard about it was when the interviewer made the question (the remainder did not answer).

The researchers went into the field, in 141 cities throughout Brazil, between December 5th and 8th, and they approached 2.002 people. The margin of error of the research is two percentage points, up or down, and the trust interval is 95%.

To 35% of those answering, the crisis is very serious, whereas to 49% it is serious, 7% said that it is little serious and 2% said it is not serious at all. Another 7% did not know what to answer or decided not to answer.

In chapter "Perception of the Crisis", 46% of those interviewed believe that the international financial turbulence should affect the Brazilian economy little. Another 10% said that Brazil should not be affected. To 37%, the economy will be greatly affected (7% did not know or did not answer).

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  • ch.c.

    Somewhat funny !
    Funny that Brazil with their 7000 kms of beaches and overall sunny climate is TOURISM DEFICIT TO THE TUNE OF US$ 5-6 BILLION….PER YEAR !!!! Even if next year the deficit will be US$ 1,5 billion….which by the way I have strong doubts of such differences from one year to the next !

    Anyway that is proof that Who Really Care about your 7000 kms of beaches ? Not even Brazilians care if they have enough money to travel abroad !

    And despite your currency devaluation, foreigners still dont see Brazil as a country of choice for their vacations abroad
    ” expenses of foreigners in Brazil totaled US$ 440 million, the same as in the same month in 2007. This month, the revenues have dropped to US$ 316 million.”
    But…but…but…. this sharp fall hide a reality : due to the Brl slide these US$ 316 millions are in fact slighly more than in 2007…when translated in Brazilian currency !

    The most funny thing is that despite your gingantic country, with 7000 kms of beaches and overall sunny climate, your annual tourim revenues are….LOWER than Switzerland….a liliputian country….with ZERO METER OF SEA/OCEAN BEACHES !!!!!

    We do something right ! You do something dead wrong !
    Beaches need heavy long term capital investments in infrastructure and high maintenance !
    You do none of them.
    What doesnt bring a profit within 3 years in Brazil….is not a good investment….in your view !
    So wrong !
    Infrastructure is very capital intensive, and thus can be done properly only with long term view and at acceptable
    interests rate.
    Thus not only you put very little in infrastructure, but this very little is then also penalized by VERY VERY HIGH….interests rates.

    Brazil simply shoots in their own rear !

    Viva Brazil, the kings of AUTO GOALS !!!!!

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