Brazilian property owners ’spend, spend, spend in holiday sales’
Brazilian property owners are continuing to take advantage of tax cuts to give the best holiday sales figures in the country for eight years.
According to figures released by the national association of mall retailers, Alshop, and consulting firm Deloitte Touche Tohmatsu, sales revenues will rise 12 per cent in the festive season, up from 9.5 per cent last year and the highest since 2001.
Nabil Sahyoun, president of Alshop, told Bloomberg.com that Brazilian property owners are continuing to take advantage of tax cuts, resulting in sales incentives.
It means that, after Brazilian real estate, the retail and consumer goods industry has been the biggest contributor to the country’s Bovespa index 84 per cent rise this year.
Recently, Brazilians have been able to take advantage of cuts on white goods, items such as plasma TVs and fuel efficient automobiles.
The jobless rate in the country is also heading in the right direction, which has led to people now feeling more comfortable when spending money.
