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Brazil 'to surpass UK's economy by 2012'

Date added: 8th December, 2009 at 10:50
(view all articles from December, 2009)

Categories: Economy

Sales of property in Brazil could be set to grow after a new report predicted that the Latin American country is set to become one of the world's top economic powers.

The study carried out by the Centre for Economics and Business Research cited a number of reasons why Brazil is on track to overtake the UK.

Douglas McWilliams, the organisation's chief executive, attributed the country's improving fortunes to a combination of economic growth, the strength of its currency and the increasing size of its population.

These factors led him to estimate that Brazil "will overtake [the UK] sometime soon, perhaps in 2012".

Commenting on the results, Edward Helmore, a writer for the First Post, suggested that it could lead to increased investment in Brazil's property market.

He said: "It's fairly clear which of Britain's superseding powers is going to be the most desirable place to live. Not Canada - too cold - but Brazil."
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