Brazilians Have Already Spent Close to US$ 3 Billion Overseas this Year

Brazilian tourism Brazilians expenses abroad have already totaled US$ 653 million this month of May. In April, this value reached US$ 770 million, according to figures supplied by Brazil's Central Bank (BC).

According to the head of the Economic Department at the Central Bank, Altamir Lopes, for these expenses to rise over the year, two factors must be evaluated: the depreciation of the dollar against the Brazilian real and the higher income of Brazilians.

In the accumulated result for the year, the expenses of Brazilians abroad totaled US$ 2.687 billion, against US$ 3.477 billion from January to April 2008, a period prior to the worsening of the global financial crisis, in September.

With the crisis, the Brazilian real lost ground as against the dollar. In recent days, the Brazilian real has been gaining ground again.

Expenses of foreigners traveling in the country reached US$ 388 million in May and this month have already reached US$ 286 million. In the accumulated result for the year, these revenues for Brazil total US$ 1.810 billion, against US$ 2.047 billion in the same period last year. The crisis has reduced the number of foreigners traveling to Brazil.

GDP Growth

The chairman of the Brazilian Development Bank (BNDES), Luciano Coutinho, said that the Brazilian economy may grow up to 4% in 2010. According to him, the industry should "start getting out of idleness" still this year, as a result of a solid domestic market.

"In the coming months, investment may be resumed. We have a positive outlook regarding the growth of Brazilian economy," said Coutinho in a public hearing on the financial crisis, held at the Commission of Economic Affairs of the Brazilian Senate in Brazilian capital Brasí­lia.

ABr

Tags:

You May Also Like

In Brazil the Economic Climate Index Is Hot (7.8), LatAm’s Hottest

Economic Climate Index (ECI) of Latin America, developed between the German Ifo Institute from ...

Brazilian Exporters Abandon Dollar in Favor of Euro

The euro is presenting itself as an alternative for Brazilian exporters when faced with ...

Lula Wants World to Know Brazil Is Iran’s Good Friend, Nukes and All

Brazilian diplomats believe that the administration of president Luiz Inácio Lula da Silva plans ...

Under the Upside Down Moon in Brazil

Eventually, Dulce was appointed Ministro da Cultura fulfilling her dream of working for racial ...

Brazil’s Internet Cozy Harbor for Its Almost 4 Million Expatriates

Itamaraty, the Brazilian Foreign Office announced Tuesday, June 9, the release of portal "Brasileiros ...

Brazil Sees G-20 US$ 1 Trillion Injection as Oxygen to World Economy

The decision by the G-20 to inject US$ 1.1 trillion into the global economy ...

Brazil’s Lula Called On to Soften Bush’s Heart on World Poverty

The United Nations seems to be failing to deliver on its  first Millennium Development ...

Brazilian Indians Get Two Weeks to Sell Illegal Diamonds

November 26 marked the beginning of the removal of mining equipment from the Roosevelt ...

Ten Candidates Running to Be Brazil’s Next President

Brazil’s Federal Election Board (Tribunal Superior Eleitoral – TSE) reports that it has received ...

Major Brazilian Dairy Company Starts US$ 30 Million Venture in Uruguay

Laticinios Bom Gosto, a major Brazilian dairy corporation, will begin to build its affiliate ...