Thought to be a continent built for exploration, Brazil has fascinated travelers for at least 500 years with its offerings of powdery white sands, stunning natural beauty and some of the world's most colorful cities. Indeed, the data collected shows that the overall trend in tourism is positive, with Business Monitor International (BMI) forecasting a 21.5% increase in tourist arrivals to Brazil between now and 2015 helping generate around US$9bn in tourist revenue over the same period.
The 2014 World Cup and 2016 Olympics has Brazil urgently working to develop tourism infrastructure, including access, capacity, and quality of tourism centers. Brazil needs to build stadiums, improve transportation, and increase hotel capacity in and around major cities as well.
With many projects behind schedule, the Brazilian government needs to act quickly, and invest significant funds. Through the next five years, tourist centers can expect steady flow of capital, new roads, improved sanitation, reformed common areas, and new major hotel investments.
These improvements will provide additional momentum to a real estate market already in a strong bullish trend. Properties on and near beaches remain quite affordable as compared to the international market for similar real estate.
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| Cumbuco, Ceará, Brazil |
Thomas White comments on the housing shortage that is also driving new construction:
However, what Brazil has a severe shortage of is housing. In fact, the country has a housing deficit of 6 million to 8 million units, according to various estimates. On average, every year, the nation of 194 million people creates about 1.5 million households, while builders there construct only half that number of housing units. At the current rate of homebuilding, Brazil’s housing deficit is projected to last at least a decade.
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