Brazil seen as affordable destination

Recent changes in currency values have caused more UK residents to view Brazil as an affordable destination for their holidays, it has been claimed.

Suren Thiru, economist at Halifax, said that a growing number of Britons are aware that "places outside the eurozone are more affordable" in terms of holiday spending.

Figures published by Halifax earlier this week reveal that the pound increased in value by 15.3% against the Brazilian real in the last six months, while its value against the euro dropped by 14%.

"A lot of traditional destinations in Europe like Spain and France have become more expensive than they were a year ago," Ms Thiru commented.

In terms of overseas property, BuyAssociation's Paul Collins recently claimed that Brazil is "probably one of the only markets" that is expected to enjoy growth during 2009.

He explained that the South American country's positive outlook is based on the strength of the economy and its emergence as a major tourism destination.

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