Brazil is leading the Travel & Tourism economy in Latin America
Brazil is Latin America's fastest growing Travel & Tourism economy, with Travel & Tourism's direct contribution to GDP; it is forecast to grow at 7.8% in 2012.
Research released by David Scowsill, President & CEO, World Travel & Tourism Council (WTTC) at Fórum Panrotas, forecasts that the Brazilian Travel & Tourism economy which contributed US$79 billion to GDP in 2011 is due to increase by 7.8% this year. This is significantly ahead of other countries in the region such as Chile and Colombia (both with growth of 4.7%) and Argentina and Peru at 3.7% and 3.6% respectively.
When the wider indirect and induced impacts are taken into account, the industry's contribution is nearly three times greater - approximately US$213 billion. This is equivalent to 8.6% of Brazil's total GDP.