Brazil Counting on US$ 3 Billion from US and EU for Hotel Sector

Hotel room in Gramado, Brazil The hotel sector in Brazil has been receiving increasing investment. Between 2006 and 2008, investments totaled US$ 1 billion and up to 2011, the forecast is for US$ 3 billion by investors from Europe, the United States and the Middle East.

This information was supplied by the minister of Tourism, Luiz Baretto, at the opening of the Fair of the Americas, this Wednesday, in Rio de Janeiro.

According to the minister, over the next five years, apart from funds from the ministry's budget, the government has already collected US$ 1 billion from the Inter-American Development Bank (IADB) for the Program for Development of Tourism in the Northeast (Prodetur), which already has nationwide coverage.

"In coming weeks, we may formalize an agreement with the BNDES to finance the redoing and expansion of the current hotel park in cities to receive World Cup matches," he said.

The matches of the soccer World Cup should attract 600,000 foreign tourists to Brazil in 2014 and the promotion of the Olympics and the Paralympics, two years later, should cause an increase of 15% in this flow when compared to the year prior to the event.

Carlos Alberto Amorim Ferreira, the president of the Brazilian Travel Agency Association (Abav), is as optimistic as the minister. "Tourism is the best tool to promote the social transformation that is available to Brazil. It is the sector that will probably result in the greatest heritage after all these events: jobs and revenues, provided by a greater flow of visitors," he said.

The Fair of the Americas, which ends Friday, October 23, includes 1,000 exhibitors and hopes to receive 27,000 professionals.



  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

For IMF, Brazil is Reaping Fruits of Discipline

In 2004 there was a marked pickup in activity in most of Latin America, ...

25 Years Later Brazil’s Petrobras Is Back to Arab World

Petrobras and Oil Search Limited, which established a joint venture to take on one ...

Lula Goes to Davos, But World Doesn’t Care About Brazil

Brazilian President Luiz Inácio Lula da Silva has arrived in Davos, Switzerland, where he ...

Brazil Wants to Raise Interest Rates to Curb Demand and Prevent Inflation

Central bank policy-makers in Brazil said Thursday they are ready to raise rates next ...

Dialogue Is Dead, Say Brazilian Indians

Sluggish, aligned with contrary interests, and marked by inaction. These were some of the ...

South Korea to Buy Brazilian Poultry and Beef

In an audience January 20, a group of lawmakers from South Korea informed the ...

Another Nail in Brazilian Labor Minister’s Coffin: Ethics Committee Wants Him Out

In a surprising move to the Brazilian government the Executive Committee on Public Ethics ...

World’s Leading Cardiologists in Brazil to Prevent Heart Disease

Heart disease and stroke cause four times more deaths in mothers in most developing ...

Sarkozy Attacks Protectionism in Visit to Brazil

France's President, Nicolas Sarkozy, in a visit to Brazil, defended this Monday, December 22, ...