FIFA World Cup to boost Brazil’s tourism and economy

Amidst speculations and reports gyrating around FIFA World Cup 2014, statistics revealed by Brazil’s Ministry of Tourism states that an estimated 3.7 million people are expected to travel to the nation during the event. The huge influx of tourists will add roughly $3.03 billion to Brazil’s economy, the report stated.

”The tourism spending being forecast based on the surveys conducted by Brazil’s Ministry of Tourism do not include the indirect and induced financial transactions resulting from these visitors,” added Minister of Tourism Vinicius Lages. ”In other words, the total financial turnover for tourism during the 2014 FIFA World Cup may be more than double the anticipated figure if we consider the multiplier effect of these resources in the Brazilian economy.” (source: Forbes)

The other 1.8 million visitors are believed to be traveling to the country to enjoy the festivities related to World Cup.

Brazil Tourism Ministry firmly believes that the event could bring a ray of hope to the falling economy albeit activists voicing their concern over the event. There has been significant protest in Brazil recently against the methodologies adopted by the Brazil Government to host the event.