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Brazil Enters Hotel building Boom

January 30 2014

Brazil is entering a hotel building boom, driven by demand for beds not only during the FIFA World Cup 2014 and the Olympics Games in 2016 but also from domestic travellers, reveals new research presented at the WTM Vision Conference – São Paulo. Euromonitor International expects 45 new hotels to open this year, followed by a further 85 in 2014. This will add 8,000 and 14,000 rooms respectively. With two major sporting events taking place, Brazil will be in the global spotlight. Euromonitor International believes that Brazil is ideally placed to capture demand for “authenticity and experiential travel” and that there will be a positive tourism legacy for the country. The Brazilian outbound travel market is also poised for growth with wealthier and more sophisticated consumers driving demand for quality products, By 2017, nearly 40% of Brazilian households will have an annual income of more than $25,000 (£16,833, R$50,500 Brazilian Real). It was also suggested that tourism businesses take note of the rising numbers of elderly and middle-aged consumers.

 

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