Brazil tourism boom boosts housing demand
Brazil’s tourism industry continues to grow this year, boosting the country’s already booming housing demand.
Tourist arrivals in Brazil increased by 18.8 per cent in the first half of 2011, according to the World Tourism Organisation. As global international tourism grows by almost 5 per cent, Latin American countries have performed remarkably well, experiencing a 15 per cent increase in visitors. But Brazil beat the lot, welcoming a total of 4,351,081 visitors during the first six months of the year.
It’s another sign of the growing popularity of Brazil, and the tourist industry isn’t stopping any time soon. Brazil is preparing to host the FIFA World Cup in 2014 as well as the 2016 Olympics, and the Business Monitor International (BMI) figures forecast a 21.5 per cent increase in tourist arrivals over the next four years, which should generate revenue of around US$9bn.
The rise in foreign interest is boosting the housing market too. The demand for home ownership in Brazil is rocketing with R$34 billion being pumped into the construction of residential property across the country. But supply still fails to meet demand, with the current housing deficit of 7 million continuing to drive new developments.
North east Brazil is the most popular destination for the 50 million market of internal tourists, and currently there is a lack of luxury resorts in this area to cater to this demand. Ecocity Brasil is just what the area needs to become a national and international touristic hotspot. Invest in what is set to become Brazil’s largest eco-friendly tourist resort from £20,000 with fixed returns of up to 191% from the Developer.
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