Published on : Tuesday, February 5, 2013
The loans granted by banks to businesses of tourism production chain in Brazil reached record numbers which rose from $ 1 billion in 2003 to the current U.S. $ 11.2 billion, totaling R $ 44.87 billion in the period.
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$ 1 billion accumulated in 2003 has now jumped to the current R$ 9.83 billion, making a total of R$ 43.5 billion 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 Pró Copa (or “Pro Cup” in English) which is intended for the renovation and construction of hotels. This initiative, set up by the Ministry of Tourism, provides around R$ 2 billion in financing in order to help cities prepare to receive tourists during the 2014 FIFA World Cup.
In 2011, the account of public loans for hotels, transport, restaurants, hotels, car rental companies and travel agencies, among others, closed at £ 8.6 billion.
Source: Brazil tourism