Brazilians cut spendings abroad by 7.33%

The dollar has become more expensive, and Brazilians are spending less overseas. According to figures released today (Mar. 25) by the Central Bank, expenditures in international travel reached $1.302 billion in February, down 7.33 percent from the same period in 2018.

From January to February, spendings abroad stood at $2.991 billion, down 12.21 percent from the same quarter last year.

The hike in the dollar played an important role in the reduction. “People go on planned trips and several costs are predicted, but the exchange rate makes an impact,” said Fernando Rocha, head of the Central Bank Statistics Department.

The travel account, made up of the amount spent by Brazilians and revenues from foreigners in Brazil, was reported at a negative $761 million in February and $1.747 billion in the first quarter.