Tourism Starts Showing at Brazil’s Balance of Payments

The increase in the number of foreign tourists visiting Brazil has begun to make a difference in the country’s balance of payments. Tourism is usually calculated as “invisible trade” in the current account (trade) area of international transactions.

According to the president of the Embratur (Empresa Brasileira de Turismo – Brazilian Tourism Corporation), Eduardo Sanovicz, “Tourism is an important commercial element. It is part of our economic agenda because it is profitable for Brazil, creates jobs, income and development.”


Although final data on tourism in 2004 is not available yet, Embratur estimates that the total number of foreign tourists who visited Brazil should reach 4.6 million, an increase of 12% over 2003.


Meanwhile, the Central Bank reports that from January to November those tourists spent US$ 2.88 billion in Brazil, an increase of 31.2%.


“Those dollars went into the pockets of thousands of Brazilians who work in the sector today,” points out Sanovicz.


Tourism in Rio de Janeiro has gotten a boost from cruise ships. This year a total of 85 of them are scheduled to dock in Rio.


It is estimated that during this season (which runs from October to April) they will bring US$ 55 million to the city in revenue, up from US$ 40 million during the last season.


The president of the company which handles the cruise ships in Rio (Pier Mauá S/A), Pedro Guimarães, says last year’s highlight was the inaugural trip by the Queen Mary, which carries 2,600 passengers.


“They were in Rio for four days. And the best part was that they made Rio the final port of one voyage and the starting port of another,” said Guimarães.


Translation: Allen Bennett
Agência Brasil

Tags:

You May Also Like

Brazilian-Arab Intellectuals Spread Arab Culture

The Institute of Arab Culture (Icarabe) in São Paulo, Brazil, is going to promote, ...

Brazil President Joins World Social Forum But Skips Davos’s World Economic Forum

Brazilian president Dilma Rousseff and seven ministers of state will participate on Thursday, January ...

Oil Drop Raises Brazil Equities

Latin American equities solidified, with Brazilian and Mexican stocks finishing at record highs. Argentina’s ...

Tired of Being Neglected by Brazil and Argentina, Uruguay and Paraguay Woo the US

Uruguay says it is tired of being treated as Argentina’s "little sister" and has ...

Opposition Keeps Going to Court with Charges Lula Is Illegally Campaigning

Brazilian opposition parties (PSDB, DEM and PPS) have filed an appeal at the Superior ...

Brazil produces some of its own AIDS drugs

US AIDS Group Hails Brazil for Breaking Merck’s AIDS Drug Patent

AIDS Healthcare Foundation (AHF), the US' largest provider of HIV/AIDS healthcare, education and prevention ...

Why India Is Decades Ahead of Brazil

Besides religiosity, two things distinguish man from the other animals: walking on two legs ...

A Call to Arms from a Brazilian in Exile

Following its independence from Portugal in 1822 the political entity called the “Empire of ...

TV Lula’s Ambition: To Cover the World with Brazil’s Good News

On May 24, 2010, President Luiz Inácio Lula da Silva of Brazil launched International ...

Brazilian Air Controllers Want Militaries Out and Dozens of New Staff

For a week now Brazilians are facing 40-minute to 4-hour delays in all their ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`