Growth tipped for Latin America and Caribbean

The Latin America and Caribbean region will start to see an economic recovery beginning later this year, it has been predicted.

A study by the Economic Commission for Latin America and the Caribbean (Eclac) has forecast that the economies of this region will see a fall in gross domestic product of 1.9 per cent this year, but by the latter months of 2009 the beginnings of recovery will be evident due to the "normalisation of financial markets and better perspectives".

This will translate into a growth rate of 3.1 per cent in 2010, Eclac projected.

Such figures may interest those thinking of buying property in Brazil, Panama or the Dominican Republic.

One property buyer who has recently bought a property in the region is triple gold medal-winning Olympic cyclist Sir Chris Hoy.

The Scotsman, who normally trains in Manchester, has bought a home in the country, explaining to the Daily Telegraph that it is "ideal for my purposes" as a place to train and enjoy holidays.
 

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