Spanish Companies Invest in Hotels in Brazil to Support Domestic Tourism

On July 2, 2013, Globo reported that Spanish companies will invest in the hotel industry in Brazil as a means to increase domestic tourism rather than international tourism for the two upcoming world events in the upcoming years. The Brazilian government wants to increase foreign tourists to 8 million by 2016 as last year; Brazil only had 5.8 million foreign tourists. The government expects that with the increased number of new jobs in preparation for the events, Brazil’s economy will grow as well as the redistribution of income allowing Brazilians to invest in domestic tourism. Read Article