Foreign investment increasing in Brazil

The level of foreign direct investment (FDI) in Brazil saw year-on-year growth of 20.6% in 2008, new figures have revealed.

According to data from the United Nations Conference on Trade and Development (UNCTAD), Brazil's total FDI for last year was $41.7 billion (£30 billion) – up from $34.6 billion in 2007.

The figures show Brazil to be bucking a global trend in terms of foreign investment, as UNCTAD estimated that overall FDI decreased by 21% last year.

Brazil secured the highest level of FDI among the South American nations, although neighbouring country Argentina actually experienced bigger growth in terms of percentage.

In Argentina, FDI grew by 27.9% to $7.3 billion in 2008.

Raising the Roof, the overseas homes blog of the International Herald Tribune, recently commented that Brazil's growing property market attracted "major investment money" from foreign interests last year.

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