Tourist arrivals to Brazil drop 5.4% y/y in H1
The number of foreign tourists in Brazil fell 5.4% year-on-year to 2.77mn during the first half of 2019, M-Brain News Monitoring reported citing an information released by Valor Economico.
The decline is mainly explained by the significant decrease in the number of Argentine visitors. In this regard, Balneario Camboriu, one of the most visited places by Argentines, saw a 61% y/y of these tourists in January and 56% y/y in February.
If this negative trend continues in the second half of 2019, the sector will post its worst performance in 4 years. The Brazilian government has recently taken measures to boost the industry such as the opening country’s airline sector to low cost companies.Original source: M-Brain News Monitoring