Brazilians shown to be getting richer

Date added: 26th June, 2008 at 16:24 (view all articles from June, 2008)

Categories: Economy

A new report has highlighted the fact that investment in Brazil has already made people significant sums of money.

The latest World Wealth Report by Merrill Lynch and Capgemini emphasised the fact that Brazil saw impressive growth in the number of high-net-worth individuals (HNWIs) living in the country last year.

In fact, the report said the South American nation enjoyed the third-highest HNWI growth rate in 2007, with a 19.1 per cent increase.

According to the research, this was driven by "a wave of robust market capitalisation growth of 93 per cent and real GDP growth of 5.1 per cent".

Robert McCann, president of global wealth management at Merrill Lynch, commented: "This year's report found that the number of high-net-worth individuals, and the amount of wealth they control, continued to increase in 2007, with the greatest wealth being created in the emerging markets of India, China and Brazil."

Recently, Brazil's president sought to reassure people considering investment in Natal and other areas of the country by pledging his administration was committed to promoting stable economic growth.

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