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Microeconomics In Brazil

1598 Words7 Pages

Final version Microeconomics

Executive summary

This assignment analyses the current economic situation and the state of hospitality industry in Brazil and the main purpose of it is to provide appropriate information and facts which will prove the capability of this country to be a great place for investors with its best five star hotel in economic terms . Based on our research we found out that Travel and Tourism rate increases and keeps booming despite all contradictory internal and external factors thanks to the the Brazil's city Rio de Janeiro which is still one of the preferable tourist destinations in the world . It happens because Rio de Janeiro was promoted by FIFA World Cup and the Olympic Games worldwide .

In its turn, one …show more content…

The main event in Brazil is a famous carnival held in Rio de Janeiro. Hundreds of thousands of tourists from all over the world rush here only to enjoy this show. In Rio the tourism is the main source of income in the economy and the most visiting city of the country by both Brazilian tourists and foreigners. According to Voanews (2017), in 2016 ,6.6 million tourists visited Brazil .This rate was 4.8 % higher in comparison with 2015 .Brazil with the help of travel and tourism industry made increase in gains from $5.84 billion in 2015 to $6.2 billion in 2016 for their economy .

Brazil has become one of the most attractive tourist destination of the world thanks to huge sport events such as World Football Cup in 2014 and the Summer Olympic Games in 2016. All the efforts to improve the infrastructure of the future capital of the World Football Cup in 2014 and the Summer Olympic Games were not …show more content…

However, Cntraveler (n.d.) pointed out that the most popular destinations in 2016 were Thailand , England and France and amount of international tourists who have visited those countries was 21.47 million ,19.88 million and 18.03 million respectively .The tourism and travel industry is growing quicker than the world economy and according to Wttc (n.d.) only in 2016 with its help 284 million people were employed and found their job.

Also, Wttc (n.d.) noted that tourism and travel industry will cover 370 million job positions in the world by 2026 . Such countries as China , India , Indonesia and South Africa will be the most successful and progressive for Total Tourism GDP. In addition ,India is going to have a rapid growth in 2026 and will reach the 7th place in Travel and Tourism GDP.

Petroff (2016) reported that in 2016 Turkey , France , Egypt and Tunisia lost their potential tourists because of political problems inside their countries .In all these countries the terrorist attacks have become a major problem and have created a negative impact on their hospitality industry and frightened international tourists

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