Members of ETC Latin America
France, Germany, Ireland, Italy,
The ETC Latin America team
Poland, Portugal, Spain, Switzerland
President:
and the United Kingdom.
Joćo Mota Pinto (Portugal)
Vice-President:
Fernanda Morici Longobardo (Italy)
Treasurer:
Ricardo Pereira (Switzerland)
Joćo Mota Pinto
Co-ordinator:
Paul Machado (Portugal)
The Brazilian and Argentinian Economy and Outbound Travel
2004 Overview
2005 Outlook
Brazil
Brazil
· Brazil's best economic performance since 1994.
· Continued steady growth is predicted for the Brazilian economy.
· GDP grew by 5% over the year and for the first time in years,
· GDP is expected to grow by 3.5%, inflation should stay low
the inflation rate stayed in single figures. Unemployment fell.
and unemployment will continue to fall.
· Brazilian exports reached an all-time record high of $67 billion
· If the real remains pegged to the US dollar, exports should
for the year.
reach another high.
· Demand for outbound tourism grew by approximately 15%
· Tour operators and travel agents predict continued growth in
over 2003 (when 1.5 million Brazilians travelled to Europe).
tourism to Europe if the Brazilian economy maintains its strong
Europe remained the number one tourism destination
recovery. There are concerns, however, about the impact of
for Brazilians.
rising oil prices, fluctuations in the real/euro exchange rate and
government plans to devalue the real against the dollar (to help
· However, because of the international security situation,
Brazilian exports).
Brazilians are taking shorter trips abroad. Their average
stay in Europe was about 15 days.
· Outbound tourism rose by 10% in the first quarter of 2005
in comparison with the first quarter of 2004.
Argentina
· Sustained growth in the Argentine economy since late 2002.
Argentina
In 2004, GDP grew by 8% and unemployment fell.
· The macroeconomic outlook is very promising, with projections
of a 6% increase in GDP.
· The positive news about the economy has encouraged
Argentinians to travel more abroad. The number travelling
· Further double-digit percentage growth in the outbound travel
to Europe was 10.5% up in the first nine months of 2004
market is expected.
over the same period in 2003.