Brazil Counting on US$ 3 Billion from US and EU for Hotel Sector

Hotel room in Gramado, Brazil The hotel sector in Brazil has been receiving increasing investment. Between 2006 and 2008, investments totaled US$ 1 billion and up to 2011, the forecast is for US$ 3 billion by investors from Europe, the United States and the Middle East.

This information was supplied by the minister of Tourism, Luiz Baretto, at the opening of the Fair of the Americas, this Wednesday, in Rio de Janeiro.

According to the minister, over the next five years, apart from funds from the ministry's budget, the government has already collected US$ 1 billion from the Inter-American Development Bank (IADB) for the Program for Development of Tourism in the Northeast (Prodetur), which already has nationwide coverage.

"In coming weeks, we may formalize an agreement with the BNDES to finance the redoing and expansion of the current hotel park in cities to receive World Cup matches," he said.

The matches of the soccer World Cup should attract 600,000 foreign tourists to Brazil in 2014 and the promotion of the Olympics and the Paralympics, two years later, should cause an increase of 15% in this flow when compared to the year prior to the event.

Carlos Alberto Amorim Ferreira, the president of the Brazilian Travel Agency Association (Abav), is as optimistic as the minister. "Tourism is the best tool to promote the social transformation that is available to Brazil. It is the sector that will probably result in the greatest heritage after all these events: jobs and revenues, provided by a greater flow of visitors," he said.

The Fair of the Americas, which ends Friday, October 23, includes 1,000 exhibitors and hopes to receive 27,000 professionals.

Anba

Tags:

You May Also Like

Brazilian Equities Go Down on Rate Hike Fears

Latin American stocks dropped, alongside lackluster trading in U.S. equities following two days of ...

Brazil Sends War-Torn Gaza 14 Tons of Food and Medicine

Brazil is sending 14 tons of donations of medication and food to the victims ...

For Brazil Winning Is Not Enough. World Wants to Be Swept Off Its Feet.

Brazil’s 2-0 victory over Australia on Sunday, guaranteed the team a berth in the ...

Libya to Open Branch of Investment Firm in Brazil

The Libyan Arab Foreign Investment Company (Lafico), a state-owned company that controls Libyan government ...

In Brazil, the Sarneys Are Synonym with Mismanagement and Corruption

When back in September 2003, the Getúlio Vargas Foundation shocked Brazil by placing Maranhão ...

Can’t Lula’s PT and Cardoso’s PSDB Just Get Along?

In 1994, Brazilian voters expressed their desire for change in the country when they ...

Brazil’s Housing Deficit Is 7 Million. Still 5 Million Residences Are Empty.

Brazil has an urban housing deficit of around 7 million residences; at the same ...

Railcar Builders Wake Up from the Dead in Brazil into a Booming Business

Brazil’s railway industry believes that sales are going to continue rising in coming years. ...

Vegetable pizza by Brazilian Perdigão

Profits Fall 8% at Brazil’s Food Maker Giant Perdigí£o

One of the largest food companies in Latin America, Perdigão, had its 2006 financial ...

3,000 Mayors in Brazil’s Capital in Search of More Funds

Tuesday, April 25, the 9th March to BrasÀ­lia in Defense of Municipalities (9ª Marcha ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`