Foreign tourists spend $7.3B in Brazil in 2024—a 15-year record
Driven by the recovery of international travel in the post-pandemic period and the devaluation of the Brazilian currency, the real, foreign tourists spent $7.341 billion in Brazil in 2024, according to a note from the country's Central Bank. This amount is the highest in 15 years, surpassing the $6.914 billion spent by international tourists in 2014, the year Brazil hosted the World Cup.
Spending by foreign tourists in the country increased by 6.28 percent in 2024 compared to 2023. This growth can be attributed to a 12.6 percent rise in the number of international visitors, reaching 6.65 million last year.
In 2024, revenue from international tourists exceeded the value of exports for key commodities, including cotton ($5.15 billion), aircraft ($4.4 billion), and copper ores ($4.16 billion).
In December alone, foreign tourists spent $721 million in Brazil, a 16 percent increase compared to the same month in 2023, when spending totaled $622 million.
According to the Ministry of Tourism, the 2024 results bring Brazil closer to the goals outlined in the National Tourism Plan, which aims for the country to reach 8.1 million foreign tourists and $8.1 billion in annual foreign revenue by the end of 2027. In a statement, Tourism Minister Celso Sabino highlighted that the increase in international visitors will generate more jobs and strengthen the Brazilian economy.
Tax free
One of Brazil's key strategies to attract more foreign tourists is the implementation of the Tax Free program, introduced as part of the recently approved tax reform. Sanctioned on January 16, the complementary law allows international visitors to request a refund of taxes on products purchased in Brazil and taken with them in their luggage.
According to the Minister of Tourism, the Tax Free program not only boosts international tourism but also strengthens the local economy. “Offering the Tax Free program to international visitors in Brazil enhances the competitiveness of our destinations. This translates to increased revenue for our economy, as well as greater income generation and job creation,” said Celso Sabino in a statement.
