RIO DE JANEIRO, BRAZIL – Brazilians spent US$5.2 billion overseas last year, the Central Bank of Brazil reported Wednesday, January 26. Expenditure during international trips reached its lowest level in 16 years.
In 2020, Brazilians had spent only US$5.3 billion. In previous years, from 2008 through 2019, the average international travel spending was almost double, around US$10 billion.
Worldwide, tourism and international travels were reduced due to the Covid-19 pandemic in the last couple of years. Borders were closed, travel restrictions were announced, flights were cancelled, and dollar increased in value compared to the Brazilian real, among other factors.
Reduced travels also resulted in less foreign visitors to Brazil. Foreign tourists have spent only US$2.9 billion in Brazilian territory last year, down 3.1% from 2020.