Brazil recorded the fourth-fastest growth in international tourist arrivals from 2019 to 2025, according to the report Tourism Trends and Policies 2026 by the Organization for Economic Cooperation and Development (OECD). During this period, the number of foreign visitors increased by 46 percent, rising from 6.3 million to 9.3 million arrivals.

The survey compares countries’ performance in 2019-before the COVID-19 pandemic-with results recorded in 2025, illustrating the pace of recovery and growth in international tourism.

Brazil among top tourism performers

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With a 46 percent increase in foreign visitors, Brazil ranked among the top-performing countries during the period analyzed.

This performance placed Brazil ahead of major international tourism destinations, such as:

• Japan: 34% growth;
• Portugal: 20%;
• Spain: 16%;
• France: 12%.

In South America, Brazil also stood out. While tourist arrivals increased in the country, other nations in the region recorded declines during the period:

• Argentina: -23%;
• Peru: -22%.

Global recovery

The OECD report highlights that international tourism continues its recovery following the pandemic, driven by increased demand for travel, the restoration of connectivity between countries, and expanded investment in the sector.

According to the organization, tourism continues to play an important role in boosting economies, creating jobs, and promoting regional development across the countries analyzed.

Trend

Brazil’s international tourism authority Embratur noted that results from the first half of 2026 confirm the trend identified in the OECD report.

In the first six months of this year, Brazil welcomed 5.2 million international tourists, the second-highest number recorded for a first half of the year. Visitors contributed USD 5.6 billion to the Brazilian economy, a figure 12 percent higher than that recorded in the same period of 2025.

Embratur pointed out that this growth also reflects expanded efforts to promote Brazil abroad.

Among these initiatives are:

• participation in international trade shows;
• organization of press trips;
• organization of familiarization trips for tour operators and travel agents (famtours);
• promotional campaigns in strategic markets.

Passengers arriving in Brazil by plane with goods that must be declared to the Federal Revenue Service will be able to clear customs more quickly. The agency has adopted a system that automatically processes part of the Electronic Traveler Goods Declarations (e-DBV), eliminating the need for in-person processing in many cases before leaving the airport.

The new process went into effect on Monday afternoon (27) and initially applies to international air travelers.

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According to Brazil’s Federal Revenue Service, the measure is part of the modernization of customs control and aims to speed up unloading operations without reducing inspection capacity.

What’s new

Until now, travelers who filled out the e-DBV to declare goods brought from abroad typically had to go to the customs office to have their declaration reviewed before leaving the arrivals area. With the new system, this is no longer necessary for some travelers.

After the declaration is submitted, the Federal Revenue Service’s system automatically reviews the information. If the transaction is deemed low-risk, the declaration is registered immediately, and the passenger can proceed to the airport exit without going through in-person processing.

Cases requiring verification will continue to be forwarded for review.

The Brazilian government has rejected the United States’ decision to extend its national emergency declaration regarding Brazil for another year.

In a statement released on Tuesday (Jul. 28), the government’s Social Communication Secretariat (Secom) said the Executive branch considered the White House’s justifications unfounded and reaffirmed national sovereignty and the independence of the branches of government.

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According to the official statement, the US decision repeats factually unsupported accusations that Brazil poses a threat to the national security, foreign policy, and economy of the United States.

In the statement, the Brazilian government asserts that the declaration “reiterates unfounded and untrue arguments,” citing alleged violations of freedom of expression and human rights, as well as claims of political persecution of a former Brazilian president, his family, and his supporters.

The Executive branch also declared that “it is entirely inappropriate to characterize Brazil as a threat to the United States, especially in light of the historic diplomatic ties and friendship that unite the two peoples.”

Secom further noted that the accusations have already been extensively rejected in meetings between officials from both countries. The government emphasized that the Brazilian Judiciary operates independently and in accordance with the Federal Constitution.

Measure extended

On Tuesday (28), the White House announced a one-year extension of the national emergency regarding Brazil, maintaining the executive order signed by President Donald Trump on July 30, 2025.

Following its publication in the Federal Register-the US government’s official jornal-and its transmission to the US Congress, the measure will remain in force until at least July 30, 2027.

In its justification, the US government stated that the conditions that prompted the issuance of Executive Order 14323 persist.

Diplomatic tensions rise

The extension of the national emergency follows a year of escalating tensions between Brasília and Washington. Since the executive order was issued in July 2025, the Trump administration has adopted a series of measures against Brazil, including the initiation of trade investigations, the imposition of tariffs on Brazilian products, and criticism of Supreme Court decisions concerning content moderation on digital platforms and the trial of former President Jair Bolsonaro.

In response, the Brazilian government intensified diplomatic negotiations with US officials and challenged the measures at the World Trade Organization (WTO), arguing that the tariffs violate international trade rules. Members of the Executive branch have also reiterated that the Judiciary operates independently, while the Supreme Court maintains that its rulings adhere to the Constitution and Brazilian law.

Despite diplomatic efforts, the measures adopted by the US administration have been maintained and expanded over the past year. The statement released by Secom marks the Brazilian government’s first official response following the announcement of the extension of the national emergency.

The United States has released a list of 471 Brazilian products that will be exempt from the new 12.5 percent surcharge imposed over alleged failures to combat forced labor. Among the items excluded from the measure are coffee, oil, natural gas, fertilizers, lumber, orange juice, and açaí products.

The list was published on Thursday (Jul. 23) by the Office of the United States Trade Representative (USTR) and includes exemptions covering 20 major product categories.

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The new tariff took effect early Friday morning (24). For products not included on the list of exemptions, the additional surcharge will be added to the 25 percent tariff imposed by the US since Wednesday (22), raising the total tariff rate to 37.5 percent on some Brazilian exports.

What was left out

The list of exemptions includes products considered strategic to trade between Brazil and the United States, as well as inputs used by US industry.

Among the main exempt items are:

• coffee;
• petroleum and petroleum products;
• natural gas;
• fertilizers;
• wood and wood products;
• orange juice;
• açaí products;
• pesticides;
• leather and hides;
• pig iron;
• aluminum waste and scrap;
• semiconductor manufacturing equipment;
• certain medications and pharmaceutical ingredients;
• works of art, antiques, and collectibles.

Also excluded were various industrial inputs, minerals, metal waste, and products used in the technology and pharmaceutical industries.

How it works

The new surcharge was announced following an investigation by the US government under Section 301 of the US Trade Act.

According to the USTR, Brazil is among a group of countries that, in the US assessment, lack sufficient mechanisms to prevent the importation of products manufactured using forced labor.

Despite this, the US government decided to exempt hundreds of products from the tariff measure.

According to the agency, the exemptions take into account factors such as the importance of certain inputs to the US economy, existing trade commitments, and the specific characteristics of certain markets.

The International Monetary Fund (IMF) praised Pix as one of the main drivers of the transformation of the Brazilian financial system, but warned that the Central Bank needs financial and budgetary autonomy to maintain its supervisory capacity in light of the sector’s expansion.

The conclusions can be found in the Financial System Stability Assessment report, released Thursday (Jul. 23).

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The document, prepared in partnership with the World Bank following technical missions to Brazil from December 2025 to March 2026, states that the country’s financial system is resilient but faces challenges related to staffing shortages at supervisory agencies, legal constraints, and the need for institutional strengthening. The previous report of this kind was prepared in 2018.

Pix

According to the IMF’s assessment, Pix has established itself as a key tool for financial inclusion, increased competition, and the digitization of the Brazilian banking market.

Emerging digital banks, the text argued, have reduced concentration in the banking sector and continue to foster competition and efficiency, which has also led to lower credit rates.

The report highlights that the instant payment system has accelerated the digital transformation of the financial sector and driven the growth of digital banks.

At the same time, the authority warns of increased cyber risks and digital fraud, advocating for the strengthening of the system’s governance.

Among the recommendations are the adoption of an official oversight policy for PIx and the separation of the Central Bank’s operational and supervisory functions.

Autonomy

In addition to praising Pix, the IMF states that it is urgent to strengthen the Central Bank’s structure to ensure the stability of the financial system.

Brazil, the report says, should adopt measures to address staffing constraints in supervisory agencies and grant full budgetary autonomy to the Central Bank of Brazil, in addition to expanding legal protections for civil servants and updating legislation on the resolution of financial institutions.

In the IMF’s view, the progress made since the last review in 2018 has been significant, but obstacles that limit the monetary authority’s ability to act persist.

The authorities, the text goes on to say, have made substantial progress, but still face challenges – primarily stemming from staffing constraints, a lack of legal protection, and limitations on legal authority.

The IMF states that these limitations reduce the intensity of banking supervision and may increase reliance on self-regulatory bodies in the capital markets.

Despite these recommendations, the IMF concludes that the Brazilian financial system remains sound and capable of absorbing economic shocks.

The report highlights the importance of maintaining the inflation-targeting regime, robust institutions, and the continuation of structural reforms to preserve the country’s financial stability.

Response from the Central Bank

In a statement, the Brazilian Central Bank said it welcomes the report and noted that the document contributes to the improvement of economic and financial policies.

“The Central Bank thanks the technical teams at the IMF and the World Bank for the quality of their work, for the constructive dialogue maintained throughout the process, and for the high technical standard of the analyses presented in the reports.”

The Central Bank also highlights that the IMF recognized the progress made by the Brazilian financial system since 2018, the transformative role of Pix, and the need to strengthen the institutional framework to secure resources, rebuild the civil service workforce, and preserve supervisory capacity.

Ministry of Finance

Brazil’s Ministry of Finance also issued a statement noting that Brazil had the second-largest upward revision in growth projections among G20 economies. The IMF expects Brazil’s gross domestic product to grow 2.4 percent in 2026. The forecast for next year was also revised upward, reaching 2.2 percent.

The ministry further pointed out that the report acknowledges that the fiscal consolidation path proposed in the country’s Budget Guidelines Bill presented in April will lead to the stabilization of public debt.

The United States announced on Thursday (Jul. 23) the imposition of a new 12.5 percent tariff on Brazilian products, alleging that Brazil has not adopted effective mechanisms to prevent the import of goods produced using forced labor. The measure took effect on Friday (24).

The new tariff replaces the temporary 10 percent across-the-board rate that had been in effect since February and comes in addition to the 25 percent surcharge on Brazilian products that took effect on July 22. As a result, some of Brazil’s exports to the US market may be subject to tariffs of up to 37.5 percent.

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The decision was made by the Office of the United States Trade Representative (USTR) following an investigation conducted under Section 301 of the Trade Act of 1974.

Rationale

According to the US government, Brazil is among 54 countries that neither prohibit nor effectively monitor the import of products manufactured using forced labor.

In the USTR’s assessment, this failure creates an unfair competitive advantage by allowing the circulation of goods produced with forced labor at lower costs.

US Trade Representative Jamieson Greer stated that the practice harms US companies and workers.

“The failure of our trading partners to address the importation of goods made with forced labor is unacceptable. This forces American workers to compete on an uneven playing field,” Greer said in a statement.

Products

The report states that, between 2021 and 2025, Brazil imported products linked to forced labor in five sectors:

• aluminum;
• cotton;
• electronics;
• lithium batteries;
• tobacco.

According to the USTR, these products could enter the Brazilian market at artificially low prices and subsequently affect the competitiveness of domestic exports.

The document also notes that, although Brazil participates in international agreements to combat forced labor and maintains the so-called “Dirty List of Slave Labor,” the United States considers the country’s mechanisms insufficient to prevent the importation of these goods.

Countries

The investigation covered 60 US trading partners.

In addition to Brazil, 53 other countries were subject to the 12.5 percent surcharge, including China, Argentina, Australia, Japan, India, the United Kingdom, and South Africa.

Brazilian reaction

In a statement, the Brazilian government criticized the new 12.5 percent tariff imposed by the United States and described the measure as “arbitrary” and “unjustified.” According to the Brazilian government’s Secretariat for Social Communication (Secom), Brazil provided the US government with information on its legislation and enforcement mechanisms to prevent the importation of products associated with forced labor, while also highlighting the country’s international recognition for combating forced labor.

The statement also notes that the government intends to invoke the mechanisms provided for under the Reciprocity Act and bring the case before the World Trade Organization’s (WTO) dispute settlement system.

While considering a diplomatic response, Brazil is maintaining measures to support exporters affected by US tariffs through the “Plano Brasil Soberano” (Sovereign Brazil Plan) initiative, which provides credit lines and incentives to access new markets.