International Visitors in Brazil Spent Almost 9 Percent More from Last Year

According to new data released by the Central Bank, between January and August this year foreign tourists spent in Brazil 8.8 percent more than the same period last year, totaling US$4.935 billion in 2014 against US$4.537 billion in August 2013. As the foreign exchange revenue for the spending of foreign tourists in Brazil, it climbed US$499 million.

The good performance is due to Brazil hosting the World Cup, when more than a million foreigners entered the country. In July and July, international visitors spent US$1.58 billion, according to central bank data.

In July, the inflow of foreign exchange reached a new record for the month since 1947, amounting to US$789 million. From a year to year comparison with July 2014 and July 2013 period, the growth reached 60 percent.

"The Central Bank data confirms the importance of the hosting major events for the Brazilian economy," said the deputy chairman of EMBRATUR (Brazilian Tourism Board), Walter Ferreira.

Brazil more than doubled foreign exchange inflows generated by international tourists (170.63 percent) from 2003 to 2013. During this period, the global average was 119 percent, according to the World Trade Organization.

Source: eturbonews.com