Tourism revenue from January to July highest for the period since 2012
Revenue from the tourism sector in Brazil reached BRL 127.7 billion in the first seven months of the year – up 6.5 percent over the total from January to July last year. The result is the highest for the period since 2012.
The figures were released Wednesday (Sep. 24) by the Federation of Trade in Goods, Services, and Tourism of the State of São Paulo (FecomercioSP).
In July, during the school vacation period, domestic tourism revenues reached BRL 19.7 billion, an increase of 4.3 percent over the same span last year. This was the best result for the month since 2012.
“The sector continues to perform well despite the economic slowdown and high interest rates. The buoyant job market and gradual reduction in inflation have helped ease pressure on household budgets and sustain incomes, encouraging people to plan trips, especially those paid for in installments,” the federation reported.
The Brazilian Central Bank has kept the benchmark interest rate at 15 percent per year, with the outlook that it will remain there for an extended period.
“The outlook for domestic tourism should remain optimistic in the coming months, boosted by the resumption of corporate travel, which is likely to sustain above-average growth compared to other sectors of the economy,” the federation went on to point out.
