Boston, MA -- (SBWIRE) -- 12/22/2012 -- The Travel and Tourism Competitive Index (TTCI) ranked Brazil as the third-most attractive destination to develop business in the travel and tourism sector in Latin America in 2011. Brazil's travel and tourism sector comprised 5.2% of the nation's GDP in 2011, and accounted for 2.5 million jobs, representing 5.5% of the country's total employment. Of the total jobs created through the sector, 1.6 million were industry specific, while 943,000 were supply chain related. During the review period (2007-2011), the total number of trips, domestic and outbound, undertaken by residents increased from 160.8 million in 2007 to 202.2 million in 2011, registering a CAGR of 5.89%. This growth may be attributed to factors such as a strong economy, rising disposable incomes and government initiatives to improve tourism infrastructure.

Key Highlights

- Brazil receives the fifth-highest volume of foreign tourists in the Americas and second-highest volume in South America after Argentina. As of 2011, the country accounted for a 21.1% share of South America's international visitor arrivals and a 3.5% share of the total inbound tourists to the Americas.
- Brazil has a large domestic tourism industry and is a key market for global tourism. Strong economic growth and rapid urbanization have led to an increase in disposable income among the middle-class population, which is driving domestic tourism. Domestic tourist volume increased from 156 million in 2007 to 196 million in 2011, expanding at a CAGR of 5.87%.
- In terms of inbound tourist arrivals in 2011, Brazil was the second-most visited destination in South America and the third-most visited in Latin America, after Mexico and Argentina. Expenditure by inbound tourists reached historically high levels of US$7 billion during the same year.
- Medical tourism in Brazil is gaining popularity due the country's highly-qualified medical professionals and advanced healthcare technology. Increasing costs in Western countries are encouraging patients to seek medical treatment in low-cost destinations such as Brazil, with the most popular treatments including plastic, cosmetic and reconstructive surgeries.
- Brazil is the world's fourth-largest domestic aviation market in terms of the number of passengers transported on scheduled airlines. The number of total domestic air passengers in Brazil reached approximately 77.4 million in 2011.
- The Brazilian government entered into a number of open skies agreements during 2009 and 2010 to liberalize its air transport policy and attract more foreign tourists into the country.
- Brazil's Ministry of Tourism and the Brazilian Development Bank (BNDES) have created a BRL1 billion (US$544.5 million) line of credit for property upgrades, expansion and new construction, through the Pro-Copa Turismo program.

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Companies Mentioned in this Report: TAM SA, Gol Linhas Aereas Inteligentes SA, Azul Linhas Aereas Brasileiras SA, Webjet Linhas Aereas SA, Avianca Brazil, Hotelaria Accor Brasil S/A., Atlantica Hotels International Brasil Ltd, Blue Tree Hotels and Resorts, The Hotel Windsor SP, Transamerica Hotels, Localiza Rent A Car S.A., Unidas SA., Hertz Brazil, Avis Brazil, Thrifty Car Rental Brazil, Carlson Wagonlit Travel Brazil, CVC Brasil Operadora e Agencia de Viagens SA, American Express Brasil SA, Avipam Turismo e Cambio Ltd, Submarino Viagens

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