According to data released by the Central Bank (CB), Brazilians spent US$ 2.120 billion on international travels in January 2014. Expenditure by foreign travellers in Brazil reached US$ 643 million in the same period. Therefore, the Brazilian tourism balance of payments incurred a deficit of US$ 1.478 billion.
In January of last year, the international travels item had a deficit of US$ 1.603 billion reflecting an expenditure of US$ 2.299 billion and an income of US$ 696 billion.
Despite Brazilian government measures to contain international travels expenditures by raising the Tax on Financial Transactions (IOF) from 0.38% to 6.38% on foreign exchange payments, Central Bank is forecasting new growth this year: disbursement should register US$ 19 billion. In 2013, the account was already negative in US$ 18.632 billion, a record at that time.
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