March 16, 2021 |
Brazil’s travel and tourism sectors are among the areas of the economy to bear the heaviest toll from the government’s decision to go into lockdown in March last year.
Border closures, travel restrictions and social distancing measures across Latin America had an immediate impact as demand for travel services collapsed almost overnight.
Scores of companies were left scrambling to renegotiate debts as costs soared and revenues disappeared nearly instantaneously.
Brazilian airline ticket sales for business travel collapsed to just BRL66.6 million ($11.7 million) in the second quarter, a 94.7% drop from the same period in 2019, according to data compiled by ABRACORP, the Brazilian association f
Will the latest outbreak of the virus undermine their budding attempts to return to growth?