The most recent annual survey commissioned by the Brazilian Ministry of Tourism indicates that most international property investors who buy in the country are attracted to the great beaches and long hours of sunshine each year. Since the beginning of 2007, $646 million US has been invested by foreigners in Brazilian property.
The study was undertaken by economics professors at the Getúlio Vargas Foundation, a national educational institution and think tank. It indicates that US residents invested the most in Brazil at $102 million, with Spanish residents spending $82 million and Italians $63 million.
While the conclusions of the study may seem obvious to some, that the sun and beaches are why people come to Brazil, the specific results of the study will help the Tourism Ministry and other government agencies to target potential investors. The government’s current strategy is to focus on five major attributes of the country: the sun and beaches; eco tourism; world class sports; a distinct and lively culture; and business and trade events.
Jeanine Pires, President of EMBRATUR, part of the Ministry of Tourism, noted that the current study results indicate that their focus is working: “‘It is encouraging that the majority of foreign investors come here because of the sun and the beach. It means our strategy is working.”
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