Brazil Tourism Report Q2 2010 – New Market Report Published
This quarter’s tourism report has shown that Brazil’s tourism industry has already benefited greatly from the announcement of several high profile events planned to be held in the country. The 2014 FIFA World Cup is set to be a huge draw for visitors and the addition of the 2016 Olympics in Rio de Janeiro will further boost the industry. In January 2010, the government said it would invest 1 million Brazilian reals to improve facilities throughout the country before of the World Cup. Inbound visitor numbers had been growing but the industry could benefit from greater stability. While arrivals rose from 4.7 million in 2001 to 7.2 million (about a 65% increase) in 2008, the report estimates a fall in that number in 2009 because of the impact on developed countries of the global financial crisis. The recovery should be relatively quick, with a forecasted increase of tourist arrivals of 9.2 million by 2014.
The number of Brazilians looking to travel within their own country and that can afford to do so is growing. According to Instituto Brasileiro de Turismo (Embratur) president Jeanine Pires, the revenue generated by tourism in 2008 was nearly 17% higher than in 2007, which was the best year on record. Sector growth appears to be building up momentum as the global economy recovers. Brazilian airline Gol Transportes AÃ©reos reported an increase in year-on-year (y-o-y) growth for January 2010. Compared with January 2009, Gol’s revenues were up by 32.1%. In the hotel sector news has been positive too, with French corporation Accor planning to add nearly 5,000 rooms in Brazil with an investment of about EUR200mn. This will be achieved through expansion of their 20 Formule 1 and Ibis hotels in Brazil throughout 2010.
Renovations are a positive area for investment in Brazil’s tourism infrastructure. A lack of infrastructure has held the sector back to date but this looks set to change as investment increases over the coming years.
View the report here.
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