Brazil Property Investment News

World Cup 2014 goes to Brazil

The international profile of Brazil is to receive a considerable boost when it hosts the FIFA World Cup in 2014. It has now been officially confirmed that the tournament will be held in the South American country, giving it the opportunity to showcase many of its major cities and promote investment property in Brazil internationally.

This is likely to lead to a number of tangible benefits for Brazil, such as improvements to the infrastructure in advance of the tournament and a considerable boost to visitor numbers and foreign investment as a result of the increased exposure the country will receive. It is thought that between eight and 10 cities will actually host the games, but the effects to Brazil’s property market will be felt by the country as a whole.

Being chosen to host an event such as the World Cup is traditionally considered a positive sign for the property market of a country, since the tournament is invariably preceded by increased levels of investment, and the effects of the promotion the country receives are felt before and long after the actual event takes place.

The announcement means that Brazil will become the fifth country to host two World Cups - a task that the president, Luiz Inacio Lula da Silva, is more than optimistic about. Speaking after the announcement, he said he recognizes that hosting the event will be a huge task, but added “we will organize a great World Cup”.

Meanwhile, Brazil has reported a growth in international visitors in 2007. Official figures from the tourism institute Embratur show a 15.2% increase on foreign visitors to the country in October 2007 compared to October of the previous year, with over half a million foreign nationals visiting during that month. This is good news for owners of holiday rental accommodation in Brazil’s main tourist centres.