Williamstown, MA -- (SBWIRE) -- 01/31/2012 -- Brazil has a large and vibrant domestic tourism industry and is a key market for global tourism. In terms of inbound tourist arrivals in 2010, Brazil was the second-most-visited destination in South America and the third-most-visited in Latin America. International tourist arrivals to Brazil are expected to continue to grow at a CAGR of 6.72% over the forecast period, resulting in seven million arrivals by 2015. Major drivers for this growth will be the upcoming international sporting events and the government's efforts to increase inbound tourism. Medical tourism in Brazil is also gaining popularity due its highly qualified medical professionals and advanced healthcare technology. However, sub standard tourism infrastructure in areas such as access to tourist destinations, accommodation and air seat capacity is a major constraint in the development of tourism.
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- The Brazilian economy's early and strong recovery after the global economic downturn has attracted many foreign investors, leading to a 7.5% increase in international tourist arrivals in 2010 to 5.16 million, as compared to a 4.9% decline in 2009.
- Not with standing the positive growth in the review period, the Brazilian tourism industry registered declines in inbound and outbound tourist volumes during the second half of 2008 and the first half of 2009 due to the global economic crisis.
- Domestic tourism is expected to grow at a CAGR of 7.41% over the forecast period, mainly driven by rising middle-class disposable incomes and infrastructural improvement measures initiated by the government.
- Inbound tourism is expected to grow at a CAGR of 6.72% over the forecast period, driven primarily by a strong economy, promotional measures taken by the ministry of tourism, and the hosting of international events.
- With Brazil hosting the FIFA World Cup in 2014 and the Olympic Games in 2016, the country is set to attract increasing foreign interest. In view of this, the government has prioritized infrastructure development as an area for investment and growth to handle the increasing tourist volumes for the upcoming events.
This report provides an extensive analysis of the travel and tourism market in Brazil:
- It details historical values for Brazil's travel and tourism industry for 2006-2010, along with forecast figures for 2011-2015
- It provides top-level analysis of the overall travel and tourism market, as well as individual category values for both the 2006-2010 review period and the 2011-2015 forecast period
- The report makes a detailed analysis and projection of tourist spending in Brazil
- The report profiles top travel and tourism companies in Brazil
Companies Mentioned in this Report: TAM SA, Gol Linhas Aereas Inteligentes SA, Localiza Rent A Car SA, MSC Cruises Brazil, Hotelaria Accor Brasil S/A, Blue Tree Hotels and Resorts, Carlson Wagonlit Travel Brazil, Jet Stream Turismo Ltda, CVC Brasil Operadora e Agencia de Viagens S.A, Submarino S.A.
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