Foreign Tourists Spending in Brazil Grows in March over 4 Percent
By Richard Mann, Contributing Reporter
RIO DE JANEIRO, BRAZIL – Income generated by international tourism in Brazil in March of this year increased 4.24 percent compared to the same period in 2018, says the Brazilian Central Bank.
Foreign tourists spent US$567 million in the country, US$23 million more than in March last year (US$544 million).
From January to March 2019, foreign exchange revenue was US$1.81 billion, corresponding to 6.33 percent lower than the same period in 2018, when revenue was US$1.93 billion.
Tourist exchange expense in March 2019 was US$1.33 billion, 13.09 percent lower than in March 2018, when the expense was US$1.52 billion.
In the year to date, from January to March 2019, the exchange expense was US$4.32 billion, corresponding to 12.48 percent lower than during the same period in 2018, when the expense was US$4.93 billion.
According to the Minister of Tourism, Marcelo Álvaro Antônio, “the deficit in the tourism trade balance is still large and does not reflect our country’s tourism supply. However, initiatives by the Ministry, such as the exemption of visas for the entry of foreigners, the opening of the market, the performance of low-cost companies and the strong investments in domestic tourism will reduce this deficit even more,” he highlights.
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