Brazilian Boom Attracts Expats

US Expats heading for Brazil increased by 20% over the past year

London, UK (Pryce Warner International) September 2nd, 2011 – With the US housing market in depression, increasingly divided politics and high unemployment, many Americans are considering becoming Expats.

Though seemingly an unlikely choice, Brazil has become more and more popular over the past few years.

Over the first half of this year over 4300 US citizens applied for work visas in Brazil, up 20% on last year.

Though the US economy is seven times as large as Brazil’s, Brazil has seen a large amount of job creation in recent years and combined with the lower cost of living has become a more popular destination among Expats.

Inflation is also relatively low in Brazil, which has been a strong selling point for those in the US and western Europe where inflation is rising with no sign of slowing down.

Americans that have seen many local businesses in their area close have been especially keen to move abroad. Many such people have noticed the prosperous economic climate in Brazil and seen an opportunity to relocate before the cost of living becomes too high at home.

Some Expats have even gone as far as to suggest that the US and Brazil have “traded places”, with the Brazilian middle-class rapidly growing while the US middle class hobbles along.

However, some Expats are already sensing signs that Brazil is in danger of befalling the same problems that the US had several years ago.

With consumption rapidly increasing, inflation is also rising and the cost of living may stretch to high for many. Despite this some analysts have pointed out that as Brazil only has a very small military expenditure, so is in a position to ensure that social services remain strong in the face of any potential economic problems.

David Harra, a Financial & Investment Analyst with Pryce Warner International, a Financial Services Provider for Expats, commented: “Brazil has for several years been growing strongly and many investors have been looking towards Latin America. That so many US Expats are moving there is still somewhat surprising but encouraging. Moving abroad is almost always a positive step especially when you see that the economy in your home country is becoming unsustainable and you are unable to maintain your lifestyle. Though Brazil is a very exciting country to move to, it is always worth ensuring you find out as much as possible before moving and ensure you consult financial advisors to ensure all elements of your finances are handled comprehensively.”

Pryce Warner International Group provides international asset & investment management, independent financial advice & QROPS overseas pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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