Money spent by Brazilians traveling abroad down 46%

The amount of money spent by Brazilians on an international trip amounted to $1.263 billion in August—down 46.26% from the same month last year ($2.350 billion), according to data from the Central Bank, released Tuesday (Sep. 22).

As for the eight months this year, spending totaled $12.879 billion, which represents a reduction of 25.13% compared to the same period last year ($17.201 billion). Central Bank head of the economic department Tulio Maciel says that dollar hikes make a considerable impact on international travel. “I believe Brazilians will travel abroad less often in view of costlier ticket prices and higher costs,” he said.

Revenues from foreign tourists traveling in Brazil reached $436 million last month, against the $493 million reported the previous August. As for the first eight months of the year, revenues added up to $3.847 billion, compared with $4.863 billion from January to August last year.

These figures reveal a $9.032 billion deficit in traveling accounts for the first eight months of the year. On Tuesday (22), the Central Bank lowered the gap predicted for international travel from $14.5 billion to $13 billion.

Translated by Fabrício Ferreira