Brazil bid looks hopeful

The President of Brazil, Luiz Inacio Lula da Silva, is convinced his county and the city of Rio de Janeiro have done enough to secure the rights to host the 2016 summer Olympics, with the winning host city announced this Friday (2 October)...

Da Silva believes that Rio is currently the favourite to be given the go-ahead when the decision is made by the International Olympic Committee in Copenhagen on Friday due to the fact that Brazil is the only country among the world's ten richest never to have hosted the tournament.

If da Silva is accurate in his estimation, the tournament is sure to offer the Brazil property market a boost.

The president told a national radio station: "Brazil being Latin America's biggest economy should convince people of the good qualities that we have to host the Olympics."

The other cities vying for the right to host the games are Chicago, Madrid and Tokyo.

Brazil has already been awarded the rights to host the 2014 Football World Cup. The tournament is the sure to boost demand for property in Brazil in the run-up to the 2014 Football World Cup, thanks to the extensive global exposure the host country will receive.

Source: www.homesoverseas.co.uk/news