Brazilian spending spree
Those looking at property for sale in Brazil could be interested to hear the nation’s residents are feeling rich and embarking on spending sprees overseas, it has been reported.
According to Brazzil Magazine, the decreasing dollar and the Latin American nation’s rising income is leading to a number of Brazilians going shopping-crazy when abroad, hinting at economic buoyancy among the people.
Figures released by the Brazilian Tourism Institute (Embratur) suggest the number of tourists visiting the country over the past three years has reached five million.
Embratur have moved quickly to deny the tourism sector is losing out due to the declining dollar.
Jose Francisco de Salles Lopes, director for studies and research at the institute, told the website: "Even though the value of the dollar is not favourable to us, we are not losing a substantial number of tourists, and we have the advantage of receiving tourists of a higher-level, who spend more and stay longer in the country."
It was reported by ANBA earlier in the year that Brazilian property could benefit from a tourism-industry festival being held in Rio Grand do Sul to increase visitors to the state.
