Tourism Investment Grows

Financing granted by official banks to businesses in the Brazilian tourism sector between January and November 2012 reached record numbers according to news reports. The R$9.83bn released during the period, even whilst not taking into account the December result, represents the best annual performance since 2003 when the Ministry of Tourism began to coordinate with public banks to provide specific credit lines for the sector.

Loans from Caixa Economica Federal, Banco do Brazil, BNDES, Banco do Nordeste and Banco da Amazonia saw growth of almost 800% in 10 years. The R$1bn accumulated in 2003 has now jumped to the current R$9.83bn, making a total of R$43.5bn for the period. The tourism segments benefiting most from the financing include airlines, travel agencies, car rental companies, restaurants and theme parks.

One of the credit lines included in this calculation is the BNDES Pro Cup that is intended for the renovation and construction of hotels. This initiative, set up by the Ministry of Tourism, provides around R$2bn in financing in order to help cities prepare to receive tourists during the 2014 FIFA World Cup.

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