Devaluation of the real leads to an increase in foreign tourists in Brazil, according to an economist

According to economist Felipe Queiroz, one reason that contributes to the increase in foreign tourists in Brazil is the devaluation of the real. “Another factor that also helps to explain is our exchange rate, as the Brazilian currency is, even with the appreciation in recent months, it is very devalued compared to other currencies, especially the euro, the pound and the dollar, it is much cheaper to travel to Brazil than to other destinations”, he explained.

In the accumulated result for the first five months, foreign tourists spent US$ 2.721 billion in the country, around R$ 12 billion. The volume is 35.9% greater than that obtained in the same period last year. Only in May were US$ 567 million, considered the highest volume for the month in the historical series.

The increase in visitors to the country collaborates with the movement of some sectors, as highlighted by economist Felipe Queiroz. “And how does it affect the economy? It affects in different ways, first the inflow of foreign currency, secondly an entire chain dedicated to the hotel sector, gastronomic sector, the different parks and goods and services aimed at entertainment are benefited”.

The most popular destinations in Brazil were Paraná, Rio de Janeiro, Rio Grande do Sul, Santa Catarina and São Paulo. Of the nearly 3 million international tourists, most came from Argentina, with 1.24 million; from the United States, with 271.1 thousand; and Paraguay, with 215.5 thousand. Together, the three countries make up almost half of the foreigners who visited Brazil.