Saturday, January 07, 2012
Fortaleza's New Year party - 1.5 million people greeted 2012 on the beach
Dear Reader,
Brazil started 2012 with a bang. A pretty impressive bang too, if you saw the 24 tons of fireworks that lit up the sky over Rio de Janeiro on New Year's Eve. Around two million people crowded onto Copacabana beach to watch the display. It was declared the world's largest New Year's party.
And that's not the only crown that Brazil accumulated in recent weeks.
In December 2011 Brazil overtook the UK to become the world's sixth largest economy, according to the CEBR (Center for Economics and Business Research). The CEBR says this is part of a growing trend for commodity-rich countries like Brazil to climb economic league tables.
Brazil's commodities (including manufactured goods and agricultural produce) helped achieve record trade levels in 2011, with $256 billion of exports. Despite higher demand for imported goods from the country's growing middle class, Brazil maintained a record trade surplus of $29.7 billion. Brazil's trade ministry expects 2012 to be another record year for trade.
And Brazil is attracting more foreign direct investment (FDI). In the years 2005-2010, FDI jumped from $162.8 billion to $660.5 billion. It's projected to hit $720 billion for 2011. The sectors bringing in the most FDI include the financial sector, the beverage industry, oil and gas, and telecoms.
Brazil's economic success (at a time when much of Europe and the US is in a downturn) presents opportunities. Expats from the US and Europe are relocating to Brazil to start new businesses. And the country's current unemployment rate of 6% and a shortage of skilled professionals translates to job opportunities for foreigners as well. Work permits granted to foreigners rose by 30% in 2010.
One hot spot attracting both foreign direct investment and workers is the city of Fortaleza on Brazil's northeast coast. This city's economic performance has outstripped the country as a whole in recent years.
Fortaleza is Brazil's #1 tourist destination for Brazilians. The growth in Brazil's middle classes (they now make up more than half the population) means that more of them can afford to travel and vacation. They come to Fortaleza for its beautiful beaches -some of the best in Brazil -and the buzzing nightlife. The city plays host to soccer's World Cup in 2014, which will bring in thousands of foreign tourists and give Fortaleza exposure on the world stage.
In 2010, Fortaleza attracted more FDI than anywhere else in the northeast. In 2011, foreign direct investment in Ceara, the state of which Fortaleza is the capital, was second only to the state of Sao Paulo. Pecem port, located 35 miles from Fortaleza, is partly responsible. Plans for Pecem include a port expansion, a huge new free trade zone, an oil refinery, thermal power plants and a steel plant. This will boost the local economy and create thousands more new jobs.
It also creates a need for housing for workers in Pecem. There is currently a shortage of accommodation in the area.
A property for sale in the naarby fishing village of Taiba would make a great rental for Pecem workers.
Brazilian families vacation in Taiba. Many own large homes here. Taiba is also popular with Scandinavians who come here to relax or kite surf. They stay in the small but trendy hotels and pousadas scattered around the village.
The village hosts an annual gourmet food festival which brings in more than 10,000 people. Many of the local restaurants and cafes serve very high-quality, but affordable, food.
The condo is in a small community that sits right next to a long stretch of white sand beach. It's a two bedroom condo. It's part-furnished and move-in ready. It could rent to Pecem workers (Pecem is a 10-minute drive from the community). It would also make a great beach home.
The asking price is $102,000.
Contact local real estate agents Daniel and Hanna Neves here for more details.
Margaret Summerfield
Posted Under:
Want More?
Sign up here for your free Pathfinder Alert e-letter, and we’ll send you our $50,000 Report...showcasing seven real estate opportunities for $50,000.
