Brazil Records Highest Level of Tourism Revenue in Country’s History

by Mia Taylor
Last updated: 2:30 PM ET, Thu October 31, 2024

First Japan, then Croatia, and now Brazil.

In case you’ve missed the headlines, 2024 has been a record year for the tourism industries in several countries. Japan and Croatia have both reported record revenues, and now Brazil is joining the club.

The country recorded an unprecedented $ 5.4 billion in foreign exchange inflows from international tourists between January and September 2024.

That’s the highest figure in the country’s historical data, which has been tracked since 1995.

According to information released by the Central Bank on Tuesday, Brazil’s tourism industry haul for 2024 is 8% higher than the same period in 2023 and 1.8% higher than the corresponding period in 2014, the year Brazil hosted the FIFA World Cup.

This soaring increase in tourism revenue also represents 78.2% of the total foreign exchange Brazil recorded for the entirety of 2023. The figure last year was $ 6.9 billion, and it too broke a previous record.

Also worth noting, the $ 5.4 billion brought in during the first three quarters of 2024 is 20% higher than the same period in 2019, which of course, is the last pre-pandemic year.

Economic Boost for Local Communities

Local tourism officials say these rising revenues benefit all of Brazil, including local communities and small businesses. It’s an economic boost that supports jobs and income at the grassroots level. said Marcelo Freixo, president of Embratur.

“The tourism industry is incredibly democratic,” said Freixo. “The money brought in by international visitors goes directly into our local communities, benefiting everyone from waiters and taxi drivers to street vendors on the beach.”

Collaborative Efforts Driving Success

Freixo credited the joint efforts of Embratur and Brazil’s tourism sector for the booming revenues, noting that the country has consistently broken records in 2024.

“September saw the highest number of international tourist arrivals ever recorded, 26% higher than in September 2023,” continued Freixo. “The cumulative arrivals from January to September were also 12% higher than the previous year,” Freixo highlighted.

Frexixo said strategic international promotion has played a significant role in the revenues now being experienced.

“Embratur and the tourism trade have been working together, using data-driven strategies to promote Brazil abroad. These results are the outcome of a collaborative effort that promises to yield even greater success. When tourism thrives, everyone benefits,” Freixo added.