Effect of Economic Policies on Business Travel in Brazil
DOI:
https://doi.org/10.47604/ijmht.3059Abstract
Purpose: The aim of the study was to analyze the effect of economic policies on business travel in Brazil.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: Economic policies in Brazil have significantly impacted business travel, particularly through changes in taxation, currency fluctuations, and infrastructure investment. The government's fiscal policies, such as tax reforms and high import tariffs, have increased the cost of doing business, leading to a reduction in both domestic and international business travel. Currency volatility, especially the depreciation of the Brazilian real, has made international travel more expensive for businesses, further dampening demand. Additionally, insufficient investment in transportation infrastructure, such as airports and roads, has contributed to inefficiencies, reducing the attractiveness of Brazil as a business travel destination.
Unique Contribution to Theory, Practice and Policy: Theory of planned behavior (TPB), institutional theory & economic theory of travel demand may be used to anchor future studies on the effect of economic policies on business travel in Brazil. Businesses would benefit from clearer guidelines on tax incentives related to travel, enabling them to plan and budget more effectively. The Brazilian government should consider revising tax policies to include specific incentives for business travel.
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