Brazil's growth 'helping to boost number of millionaires'

Date added: 17th September, 2008 at 10:43 (view all articles from September, 2008)

Categories: Economy

Last year saw a six per cent increase in the number of dollar millionaires in the world and Brazil's booming economy is one of the main reasons why, it has been argued.

An article on the Property Report website quoted Merrill Lynch's 2008 World Wealth Report as showing that not only are more people becoming millionaires, but millionaires themselves are becoming richer on the whole.

This, it claimed, is helped "by explosive growth in the emerging economies of India, China and Brazil".

British newspaper the Sun reported last week that property in Brazil is becoming increasing popular with UK ex-pats, as the traditional favourite of Costa del Sol in Spain is "becoming more of a case of Costa-too-much".

It referred to the Pipa Beach complex in Atlantic Forest as one of the "top ten non-eurozone locations for Brits to put down roots", claiming that villas in the region are currently available from approximately £130,000.

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