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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.



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