São Paulo – Brazilian tourists have spent US$ 2.294 billion in foreign countries in October this year, down 7.4% from US$ 2.124 billion in October 2013. According to the head of the Central Bank’s Economic Department, Tulio Maciel, spending during the period was lower as a result of the dollar price hike. The United States currency appreciated by 15% over the past three months, according to information credited to Maciel on Agência Brasil.
The Central Bank is expecting foreign spending by Brazilian tourists to also decline in November. Figures for this month will only be released in December.
Foreigner spending in Brazil also declined to US$ 488 million in October this year from US$ 533 million in October 2013.
*Translated by Gabriel Pomerancblum