Forecast: Travel Services Employment in Brazil

The travel services employment in Brazil has exhibited a declining trend from 2013 to 2018, followed by a slight recovery and stabilization. Employment decreased significantly from 98.01 thousand jobs in 2013 to 90.97 thousand in 2018, reflecting a general downward trend. The employment figures showed modest recovery and stability from 2019 with numbers around 92.3 thousand jobs from 2020 onwards, remaining flat into 2023.

Year-on-year, there was an average annual reduction of 2.3% during the earlier periods, bottoming out in 2018. Subsequently, a slight increase was observed by 2019, contributing to a less steep decline in employment. From 2020 to 2023, employment remained unchanged. The compound annual growth rate (CAGR) for the last five years (2018-2023) was relatively flat at 0.29%.

Looking ahead, employment levels in travel services are expected to remain stable at around 92.29 thousand jobs through 2028 with a forecasted 5-year CAGR of 0%. This indicates a stagnant growth forecast for the sector. Future trends to watch for include potential disruptions or growth driven by technological advancements in travel services, economic recovery, and changes in tourism policies and consumer preferences which could alter employment dynamics.