Business

Weaker currency boosted tourism in Brazil, but took its toll on airlines

Weaker currency boosted tourism in Brazil, but took its toll on airlines

The Brazilian Real has been one of the world’s strongest currencies this year, largely thanks to local investors who have put their faith in the new administration. But in 2018, it was an entirely different story. Due to the political uncertainties of last year’s presidential campaign—and there were many—the Brazilian Real lost 17 percent against the U.S. dollar. This did have one positive side effect, however, boosting the inflow of foreign tourists looking for cheaper holidays.

The Ministry of Tourism estimated a 3.3-percent growth in the...

Access all of The Brazilian Report

Less expensive than a coffee!

Enjoy your 30-day limited-time offer for US$ 0.25 a week