DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/e28e4f18/brazil_tourism_rep) has announced the addition of the "Brazil Tourism Report Q2 2012" report to their offering.
For 2011, preliminary indications from the Ministry of Tourism are that an estimated total of 5.54mn foreign tourists visited Brazil, which would be a new record for Brazilian tourism. In 2011, foreign tourists spent US$6.78bn in Brazil, an increase of 14.5% y-o-y, very much in line with BMI's forecast of US$6.72bn for the year. The strongest months for tourism receipts in 2011 were April (US$630mn), August (US$605mn) and December (US$650mn).
With Brazil hosting the football World Cup in 2014 and then the Olympic Games being in Rio de Janeiro in 2016, BMI believes tourist arrivals will continue to grow strongly in the years ahead. BMI forecasts 21.5% growth in tourist arrivals through to 2015, reaching over 6.73mn tourists. Over the same period, we also expect tourism receipts to increase by 25.6% to total over US$8.52bn.
LATAM Airlines Group Takes To The Skies
In December 2011, the merger between Brazilian airline TAM and Chile's LAN, which was first proposed in August 2010, was finalised after approval from Brazil's anti-trust authority (CADE) and the merger received the support of both airlines' shareholders.
In January 2012, the airlines announced a revised estimate of the cost savings expected to be achieved through the merger. LAN and TAM now predict the synergies could increase annual operating income by US$600-700mn, which is a significant increase on the original estimate of US$400mn in synergies announced in August 2010.
Companies Mentioned
- Brazil Hospitality Group
- Gol Transportes Aéreos
- TAM Linhas Aéreas
For more information visit http://www.researchandmarkets.com/research/e28e4f18/brazil_tourism_rep