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Brazil re-enters upper echelons of top nationalities

Brazil re-enters upper echelons of top nationalities



Spend by the BRIC nations continued to provide gains in March

19th April 2017.

 

Spend by the BRIC nations continued to provide gains in March, with growth of 23% and 16% to Chinese and Russian tourists, respectively, and sales to Indian tourists experiencing gains of 25% in European destinations.

 

However, the resurgence in Brazilian nationals saw these tourists re-enter the top 10 nationalities for the first time since Nov-14, with growth in both sales and transactions of 120% in March.

 

The majority of major destinations saw triple-digit gains to these tourists, and with Spain and Portugal representing the second and third most favoured destination choices for these tourists, these destinations saw growth of 160% and 234%, respectively in March.

 

Whilst the Brazilian economy continued to flounder in 2016, the ending of the political crisis in Sep-16 and subsequent key economic reforms to halt the worst recorded recessionary period in Brazil, have led to a significant recovery in the value of the Brazilian Real and optimism for an economic recovery in 2017, suggesting these tourists will likely continue to evidence a resurgence throughout the course of 2017.

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