Brazilians traveling abroad reduce spending amid recession
The bank said Wednesday on its website that Brazilian travelers spent $841 million last month. That’s 43.5 percent less than the $1.49 billion spent in February 2015.
A contracting economy and the declining value of the Brazilian real, which last year fell almost 50 percent against the dollar, help explain the spending reduction. A devalued currency makes foreign air fares, hotel fees and products more expensive.
–SPA
02:15 LOCAL TIME 23:15 GMT