Brazil’s tourism industry experienced a remarkable 207% surge in foreign investment in the first half of 2024 compared to the same period last year, marking the sector’s best performance in five years. The Ministry of Tourism reported foreign investments totaling $126 million, representing a significant increase from pre-pandemic levels.
Celso Sabino, the Minister of Tourism, highlighted Brazil’s appeal to foreign investors, attributing the growth to the country’s attractions, legal security, and social responsibility. The United Nations now ranks Brazil as the fifth most attractive destination for foreign investment globally, with transportation and culture/leisure sectors leading the way, drawing $83 million and $22 million in investments, respectively.
Moody’s credit rating agency also upgraded Brazil’s credit outlook from “stable” to “positive,” signaling confidence in the country’s internal environment. Foreign direct investments are key to developing Brazil’s tourism sector and economy, promoting modernization, sustainability, and innovation while diversifying the national production base. This trend is expected to bring lasting benefits to Brazil’s economy and flourishing tourism industry.