11/04/2008 - 03:16h Tapping Brazil’s growing tourism industry
By Polya Lesova, MarketWatch
SALVADOR, Brazil (MarketWatch) — This beautiful coastal city rewards visitors with a variety of intense experiences.
In a single day, you can stroll back in time along the cobblestone streets of the historic Pelourinho district and take in its blend of restored and decaying colonial architecture. You can grab a bite of such typical Bahian foods as acaraje, ground black-eyed peas deep fried in dende oil and served with dried shrimp. After a leisurely afternoon soaking up the sun at the beach, you can savor a folklore show exemplifying the distinctive African-tinged culture of Bahia, including the capoeira martial-arts dance brought to Brazil by Angolan slaves.
For tourism entrepreneurs, such as the executives of Invest Tur, a start-up company engaged in tourism-oriented real-estate development, Bahia holds tremendous untapped potential.
“Brazil has an incredible mixture of natural beauty, [pleasant] climate, a welcoming population and a vast number of different cultural attractions,” said Carlos Novis Guimaraes, chairman of Invest Tur’s board.
“From the Amazon to tropical forests to colonial history to beaches, it’s a myriad of natural and very high-level attractions that have been vastly underdeveloped.”
These attractions, combined with a very positive macroeconomic view of Brazil, encouraged Guimaraes and his partners to launch Invest Tur.
In addition, soccer-mad Brazil is gearing up to host the 2014 World Cup, which will accelerate tourist inflows and speed up investment in tourism and infrastructure.
Last July, Invest Tur raised about $500 million in an initial public offering. Its revenue comes from the development and sale of second homes, as well as from co-development and co-ownership of resorts.
Invest Tur buys land and then builds luxurious hotels and second homes. It has about 15 projects in its portfolio. Txai Resort Itacare in Bahia is currently the lone hotel the company has in operation; other projects are in various stages of development.
A secretária de Estado dos EUA, Condoleezza Rice, desembarcou ontem à tarde na Base Aérea de Salvador (BA)para uma visita de 18 horas à capital baiana.