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Bright tourism outlook sees investment in property in Brazil

Date added: 7th July, 2010 at 09:32
(view all articles from July, 2010)

Categories: Tourism

Those looking for hotels for sale in Brazil may be interested to hear that the positive outlook for tourism in the country has seen one French company plan to increase its investment there.

Accor, which owns accommodation for visitors to the nation, intends to spend €200 million (£165.24) adding 5,000 rooms to its properties by the end of the year, according to the Business Monitor International Brazil Tourism Report Q3 2010.

The money will go to the expansion of its 20 Formule 1 and Ibis hotels, while other firms are also opening similar facilities.

Business Monitor noted that the tourism sector in Brazil depends upon domestic demand and the number and frequency of holidays taken within the country by the local population is increasing.

Citing Instituto Brasileiro de Turismo president Jeanine Pires, the firm reported that revenue for the industry rose by almost 17 per cent between 2007 and 2008.

Indeed, real estate investor and executive director of Pathfinder Ronan McMahon recently noted that domestic tourism was growing, recommending property in Fortaleza - capital of the state of Caera in North East Brazil - as a good opportunity for speculators, as it is the most popular destination for holidaying individuals from other parts of the country.

Adding to this, the government is investing in the improvement of facilities ahead of the 2014 World Cup, which is likely to attract a large number of overseas visitors, as will the 2016 Olympics in Rio de Janeiro, the organisation stated. ADNFCR-1477-ID-19877164-ADNFCR