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Brazil - Latin America Travel & Tourism is expected to generate US$186.4bn of economic activity, growing to US$304.3bn by 2017 according to the World Travel & Tourism Council’s (WTTC) 2007 Tourism Satellite Account (TSA) research, sponsored by Accenture and prepared by Oxford Economics.

WTTC announced strong performance for Travel & Tourism Demand in Brazil in 2007, growing at a rate of 7.2 per cent. This forecast points to a rapid but steady phase of growth for Brazilian Travel & Tourism in the short and medium term, averaging 5.3 per cent per annum over the coming decade.

According to WTTC’s latest findings, Brazil is holding strong as the second largest Travel & Tourism economy in Latin America after Mexico and followed by Argentina, with Travel & Tourism Demand accounting for more than BRL184.5 bn (US$79.3 bn) in 2007.

WTTC President, Jean-Claude Baumgarten commented, “Brazil has made tremendous efforts to make Travel & Tourism a strategic priority and develop its own plans to realize the full potential that this industry can bring to job creation and economic development for the country. After recent years of economic downturn, the Brazilian government has successfully focused its attention on the long list of policy issues from marketing and promotion budgets, to aviation policy, from investment incentives to safety and security that will make a real difference for the industry worldwide.”

Globally, Travel & Tourism is growing at a steady annual rate of 4.3 per cent over the next ten years. However this continued growth in global Travel & Tourism demand presents a more dynamic and challenging business environment than ever before.

Mr. Baumgarten continued, “The thriving Travel & Tourism industry can certainly generate jobs and can spread prosperity around the world. However, the full potential of Travel & Tourism can only be realized, with the full and long term support of government. Issues such as infrastructure, education and the sustainable development of Travel & Tourism can only be addressed - effectively - with public and private sector partners working in synergy.”

This entry was posted on Wednesday, January 2nd, 2008 at 9:40 am and is filed under Media Lounge, News, Press Releases. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.