DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/80be28/brazil_tourism_rep) has announced the addition of the "Brazil Tourism Report Q3 2011" report to their offering.
The Brazil Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Brazil's tourism industry.
Brazil's tourism industry is booming. TAM, the largest airline, which speaks for nearly half of the civil aviation sector, said in February that it is looking for its business to grow by between 15% and 18% in 2011. The latest statistics published by the government suggest that this forecast could be conservative: air movements in the month of April 2011 were 32% higher than they had been in the same month of 2010. TAM is looking to increase its fleet by 34 planes. As of mid-2011, it is in the process of taking a 31% stake in smaller rival TRIP for US$250mn as it seeks to maintain its market position relative to arch-rival Gol.
Meanwhile, investment is also surging in Brazil's hotel sector. International hotel chains are also indicating they plan to increase expenditure on new properties in Brazil. Hotel chain Starwood has announced it will be opening new hotels in Brazil. The Windsor group has also announced it will open five new hotels in the next five years for an expenditure of BRL260mn. The Bristol Group has said that it plans to double its present number of 16 hotels in Brazil with a total hotel investment of up to BRL1bn until 2014 when the Olympic Games will be hosted in Rio de Janeiro. Hyatt also intends to operate 50 hotels in Brazil in the next 10 years. In December 2010 the company announced it had purchased a waterfront property in Rio de Janeiro to build a 408-room hotel. In March 2011, Brazil Hospitality Group (BHG) - a leading local hotel owner - extended its presence with the purchase of Brascan Imobiliaria Hotelaria e Turismo: as a result, the company owns the trophy InterContinental Hotel in Rio de Janeiro and various other prime properties.
In mid-2011, the key driver of the growth of the industry is the rise in incomes and household wealth that is taking place across much of South America, and not just Brazil. A large number of households now have the ability to travel for the first time (or more than they used to). A secondary driver is the growing perception on the part of carriers from distant parts of the world - such as Singapore Airlines and Emirates - that Brazil represents an increasingly important opportunity. Meantime, many European airlines are also looking to start - or to increase - services to Brazil, and not just to Sao Paulo and Rio de Janeiro. International flights into cities such as Porto Alegre and Fortaleza are also increasing.
Of course, Singapore Airlines and Emirates are developing their businesses from a low base. The main challenge is that currency movements have made Brazil a more expensive destination than it used to be in key foreign tourism markets such as the US and Western Europe. Demand in these regions has also been constrained by the mixed economic conditions. The main wildcard that Brazil's tourism industry faces is a downturn or crisis in the global economy that sends the economies of the US, the UK, France and Germany into a tailspin.
Companies Mentioned:
- Accor
- Brazil Hospitality Group
- Gol Transportes Areos
- Hopi Hari
- Hotis Othon
- ICH
- Orient-Express Hotels
- TAM Linhas Areas
For more information visit http://www.researchandmarkets.com/research/80be28/brazil_tourism_rep