Brasília – Spending by Brazilians on international trips totalled US$ 987 million in June this year, the highest figure since September 2008 (US$ 1.124 billion), when the international financial crisis worsened. The information was disclosed today (27th) by the Brazilian Central Bank.
According to the head of the Economic Department of the Central Bank, Altamir Lopes, the recent rise in expenditure by Brazilians in foreign countries is a result of the depreciation of the dollar against the Brazilian currency, which makes travel cheaper. So far this month (27th), spending by Brazilians in foreign countries totals US$ 813 million.
Expenditure by Brazilians abroad should exceed revenues from foreign spending in the country. According to the forecast of the Central Bank, the country’s travel account should end the year on a deficit of US$ 3 billion. In June, the deficit was US$ 584 million, and according to preliminary figures it totals US$ 493 million in July so far.
Still according to preliminary figures for this month, spending by foreigners in trips to Brazil totals US$ 320 million so far, whereas in June the figure was US$ 403 million. In September last year, expenditure totalled US$ 468 million.
From January to June this year, the travel account deficit was US$ 1.887 billion, as a result of US$ 2.567 billion spent by foreigners in Brazil, and US$ 4.454 billion spent by Brazilians abroad.
During the same period of last year, the deficit was US$ 2.635 billion, the result of US$ 2.899 billion spent by foreigners in Brazil and US$ 5.534 billion spent by Brazilians in foreign countries.
*Translated by Gabriel Pomerancblum
