News

Rio to gross USD 821 bn during Games

18 de julho de 2016

Such is the estimation of Brazil’s National Federation of Trade in Goods, Services and Tourism for spending by tourists in August and September, during the Rio Olympics and Paralympics.

Rio de Janeiro – Tourists during the Olympic and Paralympic Games set to take place in August and September in Rio de Janeiro are expected to add some BRL 2.7 billion (USD 821 billion) to the state government coffers. According to a study released this Monday (18) by the National Federation of Trade in Goods, Services and Tourism (CNC), tourist revenues during those two months will be 18.8% higher than in the comparable period of 2015.

“This comes during a slump in revenues from tourism and all economic activity,” said CNC economist Fabio Bentes. He told Agência Brasil that disregarding inflation, real revenue will be 10% higher during the two months of Games. According to him, 1.4 million tourists are expected.

Bentes said the food industry will see the bulk of revenue, but that hotels, car rental companies and airlines have already seen relevant spending.

*Translated by Gabriel Pomerancblum