Brazilians Have Already Spent Close to US$ 3 Billion Overseas this Year

    Brazilian tourism

    Brazilian tourism Brazilians expenses abroad have already totaled US$ 653 million this month of May. In April, this value reached US$ 770 million, according to figures supplied by Brazil's Central Bank (BC).

    According to the head of the Economic Department at the Central Bank, Altamir Lopes, for these expenses to rise over the year, two factors must be evaluated: the depreciation of the dollar against the Brazilian real and the higher income of Brazilians.

    In the accumulated result for the year, the expenses of Brazilians abroad totaled US$ 2.687 billion, against US$ 3.477 billion from January to April 2008, a period prior to the worsening of the global financial crisis, in September.

    With the crisis, the Brazilian real lost ground as against the dollar. In recent days, the Brazilian real has been gaining ground again.

    Expenses of foreigners traveling in the country reached US$ 388 million in May and this month have already reached US$ 286 million. In the accumulated result for the year, these revenues for Brazil total US$ 1.810 billion, against US$ 2.047 billion in the same period last year. The crisis has reduced the number of foreigners traveling to Brazil.

    GDP Growth

    The chairman of the Brazilian Development Bank (BNDES), Luciano Coutinho, said that the Brazilian economy may grow up to 4% in 2010. According to him, the industry should "start getting out of idleness" still this year, as a result of a solid domestic market.

    "In the coming months, investment may be resumed. We have a positive outlook regarding the growth of Brazilian economy," said Coutinho in a public hearing on the financial crisis, held at the Commission of Economic Affairs of the Brazilian Senate in Brazilian capital Brasí­lia.

    ABr

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    Ads

    You May Also Like

    Rio de Janeiro police

    Rio Olympics: Lula Creates New Bolsa (Allowance) to Raise Police Salaries

    Inspired by the success of his Bolsa Família (Family Allowance) Brazilian president Luiz Inácio ...

    Brazil’s Petrobras Has Ambitious Plans for Oil Drilling in Angola

    Brazilian state-owned oil company Petrobras plans to increase its participation in petroleum exploration in ...

    Downtown São Carlos in São Paulo, Brazil

    Brazilian City Celebrates 150 Years of Arab Presence

    São Carlos, a town in the interior of the southeastern Brazilian state of São ...

    Why Is the PT Losing Ground in Brazil? Frustration.

    It’s on, with a fixed term, the honeymoon for the elected on October 30, ...

    ATW Magazine’s Aviation Award Goes to Brazil’s Embraer

    Brazilian Embraer’s Executive Vice-President for Engineering and Development, Satoshi Yokota accepted Air Transport World ...

    Brazil Fears Many Soybean Growers Will Be Ruined

    A study by the Applied Economic Research Institute (Ipea) shows that the amount of ...

    Brazil Vows to Repair 16,000 Miles of Roads in Bad Shape

    Brazil’s National Transportation Confederation (CNT) has released a note praising the decision by the ...

    Brazil on a Push to Modernize Ports

    The Brazilian government plans to spend US$ 17 million (50 million reais) to eliminate ...

    BIC, Brazilian Immigrant Center

    Brazilian Leaders in US Gather to Draw Community Road Map

    Leaders from community organizations of Brazilian immigrants will meet  in a  conference this weekend ...

    Natural cosmetics from Brazil

    Brazil Uses Trading Companies to Boost Exports

    Brazil's Export and Investment Promotion Agency (Apex) launched a new project to encourage business ...