New Consumer Goods market report from Business Monitor International: "Brazil Tourism Report Q2 2014"
Boston, MA -- (SBWIRE) -- 03/11/2014 -- The Brazil Tourism Report examines the significant long-term potential being offered by the local tourism industry, especially as the country is to host first the FIFA Football World Cup this year and the Olympic Games in Rio de Janeiro in 2016. However, the report also highlights long-term structural weaknesses facing Brazil's tourism market, particularly in the realm of national transport infrastructure and the shortage of hotels across the country. The latter issue indicates long-term development potential, but could lead to supply shortages during the 2014 and 2016 sporting events. The report also analyses the growth and risk management strategies being employed by some of the leading hotel players in the Brazilian tourism sector as they seek to maximise the tremendous growth opportunities.
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The holding of the FIFA World Cup this year will be a major test for Brazil's image abroad. If the tournament goes smoothly, Brazil can expect long-term rewards in the form of increased tourism and greater investment in the tourism industry. Conversely, if there are any problems, either in terms of infrastructure bottlenecks or security issues, this could undermine Brazil's efforts to promote itself as a premier tourist destination. The Brazilian authorities therefore face a key year for the tourism industry and will be focused on ensuring that no major problems mar the progress of the tournament.
Such efforts were not helped by FIFA President Sepp Blatter, who criticised Brazil's preparations in early 2014, stating that 'no country has been so far behind in preparations since I have been at FIFA'. In particular, he noted that six of the 12 stadia being prepared for the tournament were not ready by FIFA's completion deadline of December 31 2013. Indeed, Sao Paulo's stadium is now scheduled for completion in mid-April, just two months before the opening of the tournament. Although all preparations are likely to be completed by June, FIFA's vocal concerns about the level of Brazilian preparedness has not assisted Brazilian efforts to portray their country in a good light. Much will now rest on the running of the tournament itself.
Brazil has moved swiftly to address concerns about security surrounding the World Cup, following major protests in 2013. Although unrelated to the World Cup, the protests caused major disruption in key cities and the authorities are keen to ensure that they are not repeated. The government has created a new special riot police squad, comprising 10,000 police officers, to be deployed in the 12 cities hosting matches during the tournament. This is in reaction to protest groups which have declared they will launch protests during the tournament as a means of publicising their grievances.
BMI forecasts, which have been revised, are as follows:
- BMI has extended its forecast period to 2018, adding new forecast data to all categories.
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