New Study: Travel and Tourism in Brazil to 2019

Brazil's tourism sector recorded strong growth during 2009-2014, fueled by an expanding middle class population and sports events. However, the continued weak state of the Brazil's economy is expected to adversely affect domestic and outbound tourism. Nonetheless, the weak Brazilian currency will help the country attract more foreign visitors. Furthermore, the 2016 Olympics is expected to support the growth of domestic and inbound tourism.

Key Findings

* Brazil's tourism sector recorded strong growth during 2009-2014, fueled by a rising middle class population. Domestic trips increased from 175.4 million in 2009 to 226.4 million in 2014, recording an average annual growth of 5.2%. During 2015-2019 domestic trips are projected to grow at a CAGR of 5.4%, reaching 294.1 million. Sports events such as the 2014 FIFA World Cup supported the growth of inbound tourism and domestic tourism (two million domestic and 1.1 million foreign visitors), and the same is expected during the 2016 Olympic games. Inbound tourist volume is expected to grow from 6.2 million in 2014 to 7.9 million by 2019, while outbound trips will increase from 8.6 million to 10 million
* According to a government-sponsored study published in 2014 on the economic benefits of the FIFA World Cup, the Brazilian Government spent BRL25.8 billion (US$11 billion) on the tournament, which was expected to enhance the country's visibility and strengthen its image to increase its tourist prospects. In contrast to its estimates, the country has failed to attract tourists to its jungles and beaches, among the 3.5 billion TV viewers that watched the tournament. According to the data from Central bank, spending by foreign tourists dropped by 7.4% from August through November (last match was in July 2014), compared with the previous year
* The hotel industry will continue to benefit from favorable exchange rates, the upcoming Olympic games, and Brazil's tourism promotional efforts. Given the growth prospects, the industry is expected to see large investments. According to the data released in March 2015 by the Brazilian Forum of Hotel Operators (FOHB), 630 new hotels are anticipated to open by 2020, translating into an investment of BRL12.8 billion (US$3.9 billion) over the next six years. This investment will increase the number of budget hotels and the availability of rooms in cities with a population of less than one million. For example, Accor's two hotels are under construction in Natal city

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Synopsis
Canadean's report - Travel and Tourism in Brazil to 2019 - provides detailed information on Brazil's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

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