Brazil is Looking Good for Investment
When it comes to unemployment, 2009 could not have got off to a worse start in many countries. Figures released in January for Spain showed 3.3 million jobless, the worst figure ever and the EU’s dire prediction that unemployment could reach 4 million by the year’s end suddenly looks very real. In the UK, jobless figures are on the rise and 3 million looks highly possible for the end of the year. But in Brazil, unemployment figures have never looked better.
Recently released government statistics show that in the 5-year period from 2003 to 2008, unemployment fell by a massive 29.4%. In terms of cities, Belo Horizonte, situated just north of Rio de Janeiro and Brazil’s 3rd largest city, registered the largest drop with 24.8%. São Paolo, Brazil’s financial hub and one of the richest cities in South America, saw a 19.4% fall in its jobless rate.
The growth in employment continued during 2008 when Brazil experienced its lowest unemployment rate since official statistics began. And the year’s 7.9% rate is expected to fall still further during 2009 – a far cry from the escalating unemployment currently being seen in the US and most EU countries.
Increased purchasing power often goes hand in hand with improved employment rates and Brazil’s statistics offer good news here too. Since 2003, the average Brazilian annual income has grown by 11.3%, although the urban centres of Belo Horizonte, Rio de Janeiro and Salvador all registered 15% or more. Higher purchasing power translates into a wealthier society and since 2003, the number of poor in Brazil has halved. Furthermore, for the first time ever, the middle class now represents the majority with 52% of Brazilians now enjoying middle class status.
“In the current economic climate, these statistics from Brazil are excellent,” comments James González, Market Analyst at Obelisk Investment Property. “They also show that Brazil represents great promise for the immediate future at a time when many established economies are set for some very hard times.” As James points out, higher employment and better wages are particularly promising signs for the property investor dependent on an exit strategy. “Not only is there an acute housing shortage in Brazil,” says James, “but increased purchasing power means more Brazilians will enter the property market.”
For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).
Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge from at http://www.absoluteguideseries.com
Email: info@obeliskinternational.com or visit our website: http://www.obeliskinvestmentproperty.com
For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com
Recently released government statistics show that in the 5-year period from 2003 to 2008, unemployment fell by a massive 29.4%. In terms of cities, Belo Horizonte, situated just north of Rio de Janeiro and Brazil’s 3rd largest city, registered the largest drop with 24.8%. São Paolo, Brazil’s financial hub and one of the richest cities in South America, saw a 19.4% fall in its jobless rate.
The growth in employment continued during 2008 when Brazil experienced its lowest unemployment rate since official statistics began. And the year’s 7.9% rate is expected to fall still further during 2009 – a far cry from the escalating unemployment currently being seen in the US and most EU countries.
Increased purchasing power often goes hand in hand with improved employment rates and Brazil’s statistics offer good news here too. Since 2003, the average Brazilian annual income has grown by 11.3%, although the urban centres of Belo Horizonte, Rio de Janeiro and Salvador all registered 15% or more. Higher purchasing power translates into a wealthier society and since 2003, the number of poor in Brazil has halved. Furthermore, for the first time ever, the middle class now represents the majority with 52% of Brazilians now enjoying middle class status.
“In the current economic climate, these statistics from Brazil are excellent,” comments James González, Market Analyst at Obelisk Investment Property. “They also show that Brazil represents great promise for the immediate future at a time when many established economies are set for some very hard times.” As James points out, higher employment and better wages are particularly promising signs for the property investor dependent on an exit strategy. “Not only is there an acute housing shortage in Brazil,” says James, “but increased purchasing power means more Brazilians will enter the property market.”
For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).
Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge from at http://www.absoluteguideseries.com
Email: info@obeliskinternational.com or visit our website: http://www.obeliskinvestmentproperty.com
For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com
Labels: Brazil, economy, investment, property, real estate
posted by Alison Kane at 5:47 pm
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