Brazilians Spend 51% More Overseas While Foreign Tourism Grows Only 9%

Brazilian tourism There was a 50.9% growth in expenditures by Brazilians in trips to foreign countries while the increase in receptive tourism was a mere 9.3%. This imbalance was responsible for the rise in net expenses on foreign trips to US$ 370 million in the month of September compared to a US$ 159 million deficit was recorded in September of last year.

The services account posted a US$ 1.2 billion deficit in September, a value 3.5% higher than recorded in 2006. Among the remaining items of the services account, according to the Brazilian Central Bank, there was an increase in expenses on equipment rental (26.2%) and royalties and licenses, at 71.1%.

Net expenses on information technology saw a 35.9% reduction using the same basis for comparison. Other services recorded net liquid of US$ 389 million, 26,6% more than the total recorded in September of last year.

The balance of payments, which is the sum of all business and financial transactions between Brazil and foreign countries, recorded a US$ 607 million positive surplus in September.

Current transactions, which include the balance of trade, services, income, and unilateral transfers, have totaled US$ 471 million, accumulating a US$ 9 billion positive surplus in the 12 months up to September. For the month, the capital and financial account received net earnings of US$ 334 million.

The highlights are still the balance of trade, which recorded a US$ 3.5 billion surplus (exports minus imports) and foreign direct investment in production, which totaled US$ 1.5 billion.

2006

Information released earlier this year showed by the Brazilian Tourism Institute (Embratur) showed that foreign tourist spending in Brazil hit a record high in 2006. Revenues reached US$ 4.316 billion, an 11.77% increase over 2005. This took place despite the fact that the number of visitors decreased by 6.3%, from 5,358,170 in 2005 to 5,018,991 last year.

According to the president of Embratur, Jeanine Pires, the increase in revenues happened because tourists in Brazil are currently spending more, staying longer, and visiting a greater number of destinations in the country. To the Embratur, the period during which Varig remained out of the aviation market last year was the main reason for the reduced foreign tourist inflow.

Europe was the main source of foreign tourists in Brazil last year. In total, 1,968,838 Europeans came to the country, and 1,803,013 tourists from South American countries. Up until 2003, according to the Embratur, the South Americans led the ranking. This change, in the assessment of the Embratur, was caused by the consolidation of the northeastern Brazilian region as a gateway for entry of Europeans in the country.

With regard to countries, Argentina was the main source, with 921,061 tourists, followed by the United States, with 721,633, and Portugal, with 312,521. Markets that achieved significant growth, according to the Embratur, include China, which was the source of 37,656 tourists, more twice as much as in 2005, Japan, with 74,638 visitors, an increase of 9.66%, Spain, with 211,741 tourists, 22.41% more, and France, with 275,913 visitors, an increase of 4.58%.

Tags:

  • 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.

Ads

You May Also Like

Brazil Finally Admits It Might Get Stuck on Zero GDP Growth in 2009

Brazilian Foreign Minister Guido Mantega admitted for the first time that Brazil's economic growth ...

What Brazil Has to Teach the US on AIDS

Dr. Richard Parker of Columbia University visited University of Illinois at Chicago (UIC) on ...

Brazil’s Petrobras to Build 26 Oil Tankers and Create 32,000 Jobs

The arm of Brazilian oil giant Petrobras in the transportation sector, Transpetro, will sign ...

Mercosur: Contesting Uruguay Brazil Says Putting Pressure Is Not Country’s Style

Brazil’s Special Presidential Adviser for International Affairs, Marco Aurélio Garcia, defended the decision to ...

Brazilian Dam Victims Camping in the Gardens of ID Bank

The families of the Movement of Dam Victims (MAB) will remain camped outside the ...

Los Angeles Gets a Day on the Park to Celebrate Brazil’s Culture

For the fourth year in a row, the Consulate General of Brazil in Los ...

Brazil Wants Five New Nuclear Plants

Brazil announced the construction of seven nuclear plants by 2025 to ensure energy sufficiency ...

A First in Mexico: AeroMexico Flies Brazilian Embraer E-Jets

The Brazilian-made Embraer 190 jet will fly for the first time with a Mexican ...

Brazil, a Land of Nobles and Serfs

"In Brazil, one population today has medical services as sophisticated as those of the ...

Brazil’s Maúcha Adnet: The Jobim Alumna Sings the Global Stage

There are many musicians who cite late maestro Antonio Carlos Jobim as an influence ...