Brazilians' expenditures abroad down 17.43% in June

Brazilians' foreign travel spending totaled $1.649 billion in June, down 17.43% compared to the same month in 2014 ($1.997 billion), the Central Bank (BC) reported today (July 22). In the first half of the year, these expenses totaled $9.940 billion, as against $12.443 billion in the same period last year.

According to the assistant head of the Central Bank's Economics department, Fernando Rocha, the lower expenditures are a reflection of the dollar hike, which raised travel costs, and of Brazil's economic slowdown.

The inbound travel revenue totaled $445 million last month, compared to $793 million in June 2014. In the first six months of the year, the cumulative total was $2.944 billion as against $3.584 billion in the first half of 2014.

As Rocha points out, the results for June last year were inflated by the large visitor flows drawn to the country by the FIFA World Cup opening. Without this boosting factor, the figures for 2015 were well below that level.

With the latest results, the international travel deficit stands at $1.203 billion in June, and a cumulative $6.996 billion in the first six months of this year.

Translated by Mayra Borges