ORLANDO: Brazil is a continent away, but the effect of the country’s economy is already having a negative impact on the people and businesses in Central Florida.
Aside from the economic downturn and the devaluation of the Brazilian currency, political leaders also are facing a protest Sunday related to the country’s largest corruption scandal.
Perfumeland is just one of the many businesses located along International Drive in Orlando that caters to Brazilian tourists. Last year, more than 1/4 of Brazilians visiting Central Florida shopped at the store, but an economic crisis in Brazil has already put a dent in that number by 20 percent, said Alejandro Pezzini, CEO of the AMP Group.
“Recently, we’ve been very concerned with the shift in the economy — particularly when it comes to the currency devaluation versus the dollar,” Pezzini said. “And we’re seeing modified shopping behavior from our visitors.”
The owners of the Orlando-based shipping company IBA Express also blame the devaluation of the Brazilian real (the country’s currency) for the 50 percent drop in its business.
Fernando Piacastelli said it comes down to instability of the currency. IBA Express ships goods customers bought in Orlando back to Brazil. It’s not just small packages, either. The company ships containers full of furniture and other household goods.
“It doesn’t matter if the dollar is too high or too low,” Piacastelli said. “It cannot be, you know, let’s say floating. Once it stabilizes either at the top or at the bottom, they start buying again.”
The study shows Canada, Brazil and the United Kingdom make up 55 percent of international visitors to Orlando. According to the study, there’s also been an extreme growth in the number of Brazilian visitors: an increase of 20 percent from 2012 to 2013.
