FIFA World Cup 2014 drives up tourism spending in Brazil

FIFA World Cup 2014 drives up tourism spending in Brazil

Data released by the Central Bank indicates that between January and August of this year, international tourists visiting Brazil spent 8.8 per cent more than during the same period last year.

In total spending reached £3,029 billion in 2014 compared to £2,785 billion in 2013.

During August, foreign currency income relating to spend by foreign tourists in Brazil was £305 million.

This good performance is thanks to hosting the FIFA World Cup 2014, when more than a million foreigners entered the country.

During the months of June and July, international visitors spent £972 million, according to data from the Central Bank.

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In July, the entry of foreign currency amounted to £483 million, beating the record for the month held since 1947, a little below the figure of £488 for June - also a record for the month.

In comparison with the same period of June/July 2013, there was an increase of 60 per cent.

“The data from the Central Bank confirms the importance of hosting large events for the Brazilian economy,” stated Walter Ferreira, advisor to the president of Embratur.

Brazil has more than doubled the entry of foreign currency generated by international tourists (170.63 per cent) from 2003 to 2013.

During this period, the world average remained at 119 per cent, according to data from the World Trade Organisation.