Record year for tourism in Latin America, with Brazil standing out from the crowd
2015 has been a record year for tourism in Latin America, with the sector seeing positive growth and serving as a source of considerable revenue for governments in the region.
According to the World Tourism Organization (UNWTO) the number of foreign visitors to Latin America reached 96.6 million in 2015, the highest number welcomed over the last decade!
Some of the main reasons for high tourist numbers include greater inflows of North Americans, thanks to the strength of the US dollar as well as growing demand for travel amongst the Latin American middle class with seven out of ten arrivals originating from within the subcontinent.
Between January and November 2015, more than 66.7 million North Americans visited the region according to the US Office of Travel and Tourism Industries (OTTI), 7.7% more than in the same quarter of 2014.
Indeed Latin American giant, Brazil, is one of the top rising destinations in 2016 amongst US tourists, according to the Q4 2015 Global Travel Insights report. Brazil is the long-haul destination with the biggest jump in 2016 so far, compared to 2015, for both North American and European travellers.
The value of the US dollar, on average appreciating 20% against major Latin American currencies in the past year, still remains a determining factor for North American tourists when choosing a holiday destination, according to United States Tour Operators Association President, Terry Dale.
Indeed, with its 360 days of sunshine, miles of clear coastline and the Brazilian real at all-time low, depreciating 47% against the US dollar, Brazil is an attractive holiday destination which is hard to resist.
Another important factor attracting new visitors to Brazil, and Latin America in general, is the upcoming Summer Olympic Games 2016 which will be held in Rio de Janiero this summer. Brazil’s iconic city, Rio de Janeiro, has climbed 30 spots to position 28 in popularity with US travellers in 2015 according to Global Travel Insights report.
Brazil is expecting to welcome significantly more tourists than it did during the FIFA World Cup held in summer 2014. During the two months of the tournament, the country recorded 1.8 million tourist arrivals, a figure more than three times the 350,000 foreign visitors the country received during the same months in 2013.
Local real estate developers, such as Ritz-G5 based in the northeast of Brazil, are preparing to welcome new inflows of tourists to the region with their attractive investment and buying opportunities.
Ritz-G5’s Sales Director, Miller Reis, comments,
“Brazil, as well as Latin America, is receiving a lot of interest from overseas visitors which we are very pleased about. Our region here in the northeast has been somewhat of a hidden gem for many years and it is great to see more and more tourists exploring our beautiful country!”
For more information on tourism in Brazil, the Summer Olympic Games or Ritz-G5’s multi-award winning developments, contact the team on +44 (0) 207 183 7565 or visit www.ritz-g5.com
