South American tourism industry hopes for boom from currency devaluation

A strong U.S. dollar has helped attract foreign tourists to Brazil and could make other South American destinations attractive to foreigners in the aftermath of the pandemic

tourism industry
Arrivals at the Campinas-Viracopos airport. Photo: Jair Ferreira Belafacce/Shutterstock

A decade ago, Brazil probably seemed like a dream destination for many foreign tourists. As well as being home to picturesque beaches and decadent Carnival parties, the country was receiving positive press internationally for its economic progress and its growing global relevance, as it prepared to host the 2014 World Cup and 2016 Olympic Games.

But the trip would not have been a cheap one.

A tourist’s U.S. dollar would have fetched just two Brazilian reais ten years ago. Years of capital inflows into the then-booming emerging economy had helped bring prosperity for locals, but it also made the country...

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