Brazilians spent $25.6 billion abroad in 2014

In spite of the recent dollar hikes, international travel expenses

Published on 23/01/2015 - 16:53 By Mariana Branco reports from Agência Brasil - Brasília

Aumenta gastos de turistas brasileiros no exterior

The amount of money spent by Brazilians overseas has surged by 2.48% in 2014, despite recent dollar hikes. (Tânia Rêgo/Agência Brasil)

The amount of money spent by Brazilians overseas has surged by 2.48%, from $24.987 billion in 2013 to $25.608 billion in 2014—a new record, despite recent dollar hikes. The international travel account reported an also record-breaking deficit of $18.695 billion last year. Data were released today (Jan 23) by the Central Bank.

According to Tulio Maciel, head of the bank's Economic Department, the current trend is actually to have the growth of Brazilians' foreign travel reduced due to the appreciation of the US currency. He believes the expenditures in 2015 will be near 2014 values.

In 2014, when the country hosted the World Cup, foreigners' spending in Brazil added up to $6.914 billion—up 3.13% against the previous year. Revenues were bellow the bank's expectations. According to Maciel, external factors may have had an influence. “The pace of global growth is seen to be aligned with travel revenues forecast for the country,” he remarked.

As for the record-breaking deficit of $90.9 billion from the country's current transactions last year, Maciel attributed the outcome chiefly to the commercial balance. In his view, the balance tends to recover this year, due to such factors as the exchange rate (an expensive dollar benefits exports); the larger bulk of international trade; and the Brazilian oil account, which is expected to improve.


Translated by Fabrício Ferreira


Fonte: Brazilians spent $25.6 billion abroad in 2014

Edition: Nádia Franco / Nira Foster

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