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

Defiant Brazil’s House Speaker Says He Won’t Step Down

Brazil’s House Speaker, Severino Cavalcanti (from the PP party of the northeastern Brazilian state ...

Brazil Reduces Benchmark Interest Rate Again. Still 18.5%.

In a unanimous decision, Brazil’s Monetary Policy Committee (Copom) moved ahead on Wednesday, November ...

Ronaldinho's statue destroyed by fans in Santa Catarina, Brazil

Brazil Not Only Lost the Cup But Also the World’s Respect

Not since the early 1970s when West Germany and Holland, with their "total football" ...

Happy 450th Birthday, São Paulo

São Paulo contains everything that is bad about Brazil, particularly the enormous social division ...

The Centenary Secret Is Out: Brazil’s Wine Is a Head-Turner

Not too long ago, the words Brazilian and wine would hardly be out together ...

What the US and Europe Can Learn From Brazilian Socialism

The crash of 2008 called the World Social Forum’s bluff. For years, the Forum ...

Venezuela and Russia Are Top Importers of Brazil’s Federal District

Chicken and giblets exports from the Brazilian capital BrasÀ­lia totaled US$ 13.251 million in ...

4.7% of All Brazil Exports Go to Arabs, a 35% Jump

Brazilian exports to the Arab countries generated US$ 7.07 billion from January to September, ...

Brazil’s Big Contractors Looking for a Bigger Slice of Belo Monte’s Action

A sweetheart deal? Maybe. After all, the Brazilian Development Bank (BNDES) will ante up ...

Agrarian Reform Now! Land Concentration Dehumanizes Brazil

The concentration of land in Brazil continues to be among the highest in the ...

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