November 2009 Newsletter for Brazil Real Estate and Land Investors
On the back of the news that Brazil will be hosting South America’s first Olympic games (amongst a variety of other investment attracting factors), it would seem that the world is continuing to take note of Brazil’s ever increasing role as an economic power. Several economic pundits have pointed to the fact that the currency may well be becoming overvalued (the real has gained 36 per cent against the US dollar so far this year) – yet, nevertheless, the economy remains in a healthy position all factors considered and São Paulo’s bankers and business leaders remain cautiously optimistic about the country’s future prospects. According to recent comments by former president, Fernando Henrique Cardoso: “Brazil suffers from a shortage of infrastructure, poor quality of education, environmental issues and crime.” Mr Cardoso’s fears on that last point have been underlined by the violence in Rio’s favelas a few weeks after the Olympics were announced.
