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Brazil expects economic boom from Olympics and World Cup

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Brazil expects economic boom from Olympics and World Cup

Money transfer companies may soon see an influx of customers looking to exchange their currency ahead of a visit to Brazil, as tourism board Embratur plans to court Brits.

The country is set to host the 2016 Summer Olympic Games as well as the 2014 FIFA World Cup, with experts saying they will do everything they can to maximise tourism during the events.

"The UK is one of our priorities now in Europe and with the World Cup and the Olympic Games, we are intending [to see] an increase in tourism," commented Marco Lomanto, director of products and destinations with the group.

He added: "I hope we will be able to receive a lot of British tourists."

Around 170,000 British travellers arrive in Brazil every year and the tourism board says it wants to boost the number by 20 per cent for the World Cup.

This should deliver a much needed shot in the arm to the economy of the rising global power.

Mr Lomanto added: "We are going to estimate the number of new jobs [will be around] 330,000 permanent jobs and 380,000 temporary jobs. A total of 3.7 million more tourists will generate R$ 9.4 billion [Brazilian real] (£3.6 billion) for the tourism sector."

Around R$ 3.9 billion will be contributed by 600,000 international tourists and the remaining amount will come from visitors from other parts of the country, he explained.

"The World Cup alone will generate around R$ 47.5 billion," remarked Mr Lomanto.

The tourism board said that this will amount to 0.26 per cent of average GDP for the Brazilian economy over the four year period leading up to the event.

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