Brazil Expects Solid Travel Growth

brazilBrazilian total business travel spending is expected to grow 14.3 percent to $34.5 billion in 2013 and will see continued growth in 2014 of 16.1 percent to $40 billion, the Global Business Travel Association (GBTA) reports in its GBTA BTI Outlook – Brazil.

The outlook is an in-depth report on Brazilian business travel spending. Ranked #8 in the world today, Brazil’s business travel spending is on track to surpass Italy, France and the UK over the next two years, GBTA says.

Domestic business travel spending has grown 8.3 percent a year over the last 12 years, and is forecast to grow 12.9 percent to $27 billion in 2013, the GBTA says. International outbound travel spending is on target to expand by 20.2 percent in 2013, reaching $7.1 billion

Demand for hotel rooms and air travel has been strengthening from both domestic and international outbound travelers; however there is an increasingly large gap in supply, GBTA said in its research.

Wellington Costa, president of GBTA Brazil commented: “Brazil has shown remarkable economic resilience and we see this reflected in the latest GBTA business travel data. Although business travel spending slowed toward the end of 2012, growth rates for both  travel spend and the economy are now rising again. The major challenge facing the Brazilian business travel market is whether the country’s travel infrastructure and supply can keep pace with its growing demand.” 

Brazil will host events such as the 2014 FIFA World Cup and the Rio 2016 Olympic Games helping fuel both business and tourism travel, GBTA notes.

Visit www.GBTA.org