Brasília – Spending by Brazilians during international trips was down 2.93% year-on-year in April to USD 1.493 billion, the Central Bank reported this Monday (27).
International travel spending slid by 10.22% to USD 5.809 billion year-to-date through April.
And expenditure by foreign travelers in Brazil amounted to USD 472 million, down 5.41% year-on-year in April. Year-to-date spending was USD 2.283 billion, down 6.17% from a year ago.
The resulting balance of travel ran a USD 1.021 billion deficit in April and a USD 3.525 billion deficit year-to-date through April.
According to the head of the Central Bank’s Statistics Department, Fernando Rocha, the stronger US dollar is causing Brazilians to spend less cash abroad. “It becomes more expensive to go abroad,” he said.
Translated by Gabriel Pomerancblum