Brazil on the up

Brazil's popularity as a destination for holidaymakers is increasing, Halifax has stated...

According to the lender, the country is seeing an increase in visitors as tourists look for affordable countries located outside the euro zone during the credit crunch.

Economist for the Halifax Suren Thiru stated that Brazil's currency has fallen in value against the pound due to the country undertaking substantial amounts of trading with the US.

And this, he said, is making it more attractive to Britons looking for cheaper holidays.

"A lot of traditional destinations in Europe like Spain and France have become more expensive than they were a year ago," he explained, noting that many places outside the euro zone are now "more affordable".

Mr Thiru's comments follow those of BuyAssociation Editor Paul Collins, who earlier this week stated that Brazil is increasing its efforts to attract property investors to the country by making it easier for developers to build on what is often undervalued land.

Source: www.propertyshowrooms.com