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Boston, MA -- (SBWIRE) -- 05/30/2013 -- The Brazil Tourism Report examines the significant long-term potential being offered by the local tourism industry, especially with the country to host first the FIFA Football World Cup in 2014 and then the Olympic Games in Rio de Janeiro in 2016, but also flags short-term concerns about the lack of adequate nationwide airport infrastructure and hotel room supply in major Brazilian cities, both of which pose a clear challenge to the near-term future development of the local tourism sector.
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 being offered by the local market at the present time.
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2012 arrivals data paints a promising picture, with data indicating that total arrivals increased by 5.91% y-oy to total 5.75mn. This level of growth is set to continue in 2013, at 4.08% y-o-y. BMI forecasts 2013 arrivals will reach 5.98mn. Arrivals in 2013 will be bolstered by strong growth from the European source market, although BMI cautions that risks could be to the downside given ongoing economic uncertainty in Europe.
Investment in Brazil's transport and tourism infrastructure is set to remain strong over the forecast period. In March 2013, Finance Minister Guido Mantega launched a Brazil Infrastructure Roadshow in New York, which is also expected to visit London, Singapore and Tokyo. This aims to attract foreign investment for transport infrastructure projects, particularly road, rail and airport projects. The aim is to boost Brazil's transport capability ahead of the 2014 World Cup and the 2016 Olympic Games. This will have long-term benefits for Brazil's transport and tourism receipts. In 2012, international receipts for transport services totalled BRL0.71bn but this is forecast to rise to BRL0.81bn by 2017.
BMI forecasts which have been revised are as follows:
- In 2012, we estimate a total of 6.4mn foreign tourists visited Brazil, an impressive increase of 19.3% y-oy. BMI forecasts a 11.25% increase in arrivals in 2013, preceding a further 11% increase during 2014.
- In 2012, more than 5.89mn Brazilians travelled abroad as tourists, reflecting the country's growing economic affluence. This rate is forecast to grow steadily, with BMI forecasting 7.79mn Brazilian outbound tourists by 2017.
- Ongoing investment in Brazil's transport infrastructure is reaping benefits in terms of transport receipts. BMI estimates that transport receipts totalled US$360mn in 2012, and we believe it will remain steady at around this level until 2017.
- In 2012, the industry value of hotels and restaurants totalled BRL69.21bn, representing growth of 5.34% y-o-y. This is forecast to continue growing to 2017, with industry value forecast to total US$45.3bn by 2017.
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