Loans to parks, freight carriers, hotels, car rental companies and travel agencies up 800% in 10 years

Comments Off | 01-23-2013

Financing granted by official banks to businesses in the tourism sector between January and November 2012 reached record numbers. The R$ 9.83 billion released during the period, even while not taking into account the December result, represents the best annual performance since 2003 when the Ministry of Tourism began to coordinate with public banks to provide specific credit lines for the sector.

Loans from Caixa Economica Federal, Banco do Brazil, BNDES, Banco do Nordeste and Banco da Amazonia saw growth of almost 800% in 10 years. The R$ 1 billion accumulated in 2003 has now jumped to the current R$ 9.83 billion, making a total of R$ 43.5 billion for the period. The tourism segments benefiting most from the financing include airlines, travel agencies, car rental companies, restaurants and theme parks.

One of the credit lines included in this calculation is the BNDES Pró Copa (or “Pro Cup” in English) which is intended for the renovation and construction of hotels. This initiative, set up by the Ministry of Tourism, provides around R$ 2 billion in financing in order to help cities prepare to receive tourists during the 2014 FIFA World Cup.

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