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LatinNews Daily - 13 August 2021

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In brief: Tourism still struggling in Brazil

* The Confederação Nacional do Comércio de Bens, Serviços e Turismo (CNC), Brazil’s commerce and tourism industry association, has noted that the situaiton in the tourism is improving, but that the sector’s earnings are still 22.8% below what they were in February 2020 – before the coronavirus (Covid-19) pandemic hit – and it is expected to recover more slowly than the services sector as a whole. According to the CNC, the tourism sector has accumulated losses of R$395.6bn (US$75.29bn) since the start of the public health crisis, with losses of R$19bn in June this year. Nevertheless, the outlook for coming months is “favourable”, says CNC economist Fabio Bentes, with the tourism sector’s income expected to grow 18.2% by the end of the year.