Brazilian economy 'in good shape'

The Brazilian economy is set to do well in the future as it has not suffered badly in the credit crunch, a government official has said.

Speaking at the Why Brazil; Why Now event in London, co-ordinator of inward investment at the Ministry of Tourism Laercio Souza noted that only 1.2 per cent of gross domestic product had been spent on a stimulus package.

He also noted that the middle class is growing rapidly and the levels of personal indebtedness are low, with banks being well resourced.

Such factors may influence those keen on buying overseas and looking for economies with strong emerging prospects.

Mr Souza said that popular locations for second home buyers in the domestic market include Santa Cantarina or Florianopolis, something overseas buyers may want to consider.

Those keen on investing in the tourist rental sector may be encouraged by news from the Brazilian Tourist Board that overseas visitor numbers increased by 0.5 per cent on a year-on-year basis in 2008, with the British contribution rising from 177,000 to 181,000.

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