Brazilians scrap overseas trips
Brazilian property investors could be interested to learn that as Brazilians tighten their belts they are cutting back on overseas trips, which could suggest a boom for the domestic tourism market.
According to Brazzil magazine, figures released by the Central Brazilian bank have revealed that Brazilians spent $128 million (£75 million) less on overseas trips in November compared to the same period last year.
Head of the economic department at the central bank, Altamir Lopes, told the publication: "The depreciation of the Brazilian currency caused expenses by Brazilians with trips abroad to drop much."
The report added that a survey carried out by the CNI found that more than half the Brazilian population claim they will not be affected by the international financial crisis.
Meanwhile, Brazilian property investors could also be interested to hear that Fool’s Gold star Matthew McConaughey has praised the Latin American country and vowed to return.
