Intermediaries registered a 2% increase in retail value sales in 2017 to reach BRL36.5 billion. This performance was better than the negative CAGR of 1% witnessed over the review period, which can partially be explained by the gradual recovery in intermediaries value sales after deeply negative results which hit the channel in 2015. Political instability and the strong economic recession in Brazil were the two main reasons behind Brazilians’ caution over spending on travel products and services. However, this scenario is gradually changing.
Intermediaries is predicted to record a 2% retail value CAGR at constant 2017 prices over the forecast period to reach BRL40.7 billion in 2022, after registering a negative constant retail value CAGR of 1% over the review period, as the unfavourable macroeconomic conditions in Brazil begin to ease from 2017. Even so, consumers may continue to opt for less expensive destinations and gradually resume their travel habits from the period prior to the crisis.
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