Brazil Tourism Industry

In: Philosophy and Psychology

Submitted By jessicalow
Words 5336
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1.0 Introduction to Brazil Tourism Industry
In Brazil, tourism is a key to the economy development of several regions of the country. This statement was further supported by Slob B. & Wilde J. (2006), in their published journal entitled ‘Tourism and Sustainability in Brazil’, regardless of anywhere in the world, tourism, indeed; is the fastest growing industry and it contributes the world economy with a gross output of over US$7 trillion, employing 11% of globe’s workforce, forming 11.5% of global GDP. While in Brazil, White (2006) found that the industry contributes 3.2% of the total country revenue in year 2005.
According to World Tourism Organization (WTO), due to the devaluation of American Dollar against the Brazilian Real has made a favorable trend in International tourist arrival to Brazil to grow dramatically in 2007 and in early 2008. In spite of this, statistic in Table 1 shows that revenue had risen from USD 4.3 billion in 2006 to USD 5.7 billion in 2008.
Table 1 Brazil International Tourism Arrivals 1995-2011 Year | International tourist arrivals
(x1000) | Annual growth (%) | Total revenue (millions
USD) | Annual growth (%) | 1995 | 1,991 | - | 972 | - | 2000 | 5,313 | - | 1,810 | - | 2003 | 4,133 | - | 2,479 | - | 2004 | 4,794 | 16.0 | 3,222 | 30.0 | 2005 | 5,358 | 11.8 | 3,861 | 19.8 | 2006 | 5,019 | -6.3 | 4,316 | 1.1 | 2007 | 5,025 | 0.1 | 4,953 | 14.8 | 2008 | 5,050 | 0.5 | 5,780 | 16.7 | 2009 | 4,802 | -4.9 | 5,305 | -8.2 | 2010 | 5,161 | 7.5 | 5,919 | 11.6 | 2011 | 5,400 | 4.6 | 6,775 | 14 |
(Source:World Tourism Organization 2011)

However this favorable trend changed in late 2008 and 2009 when both visitors and revenues fell as a result of the global financial crisis and economic recession that has made tourism industry severely affected globally. This economy recession fact is further supported by…...

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