Brazil Expects Foreign Tourists to Spend More than Ever this Year

According to Brazil’s Central Bank, foreigners visiting Brazil spent US$ 314 million, in September, a 1.6% decrease from the US$ 319 million spent in the same month last year. In the whole of last year funds brought to the country by foreign visitors amounted to US$ 3.861 billion.

Despite the slight decrease in September, the Brazilian Tourism Institute (Embratur), a government agency in charge of promoting the tourism industry in the country, believes that expenditure by foreign tourists in Brazil will hit an overall record this year.

According to the Embratur, the growth rate recorded between January and September points to revenues of between US$ 4.3 billion and US$ 4.4 billion by the end of the year.

"The launch of new international flight routes, scheduled for the last quarter of this year, may contribute to further increase the revenues," claimed the director of surveys and research at Embratur, José Francisco de Salles Lopes, in a statement published by the agency.

Data from the Central Bank of Brazil include only official operations, i.e., those made by tourists using credit cards or currency trades made in financial institutions and exchange brokers that report to the Central Bank.

Possible informal operations made by travelers are not considered in the study, but Embratur will release an estimate in this regard at the end of the year.

Brazilian expenditure on foreign trips. on the other hand, reached US$ 4.215 billion between January and September this year, a 21.5% increase when compared with the same period last year.

In September alone, expenditure abroad by Brazilian travelers amounted to US$ 473 million, a 9.2% increase when compared with the US$ 433 million in the same month in 2005. Throughout last year, Brazilian tourist expenditure abroad has amounted to US$ 4.72 billion.

Although the international tourism balance of trade in Brazil has a deficit, foreign expenditure in the country is also increasing this year. According to the Central Bank of Brazil, the amount between January and September this year was US$ 3.207 billion, a 12.7% increase in comparison with the same period in 2005.

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