News
UK economy encouraging property investment in Brazil
Wednesday 18 June 2008
A growing number of people are upping sticks and moving to countries like Brazil as a result of the unstable nature of the UK economy.
According to a report in the Daily Telegraph, fears of an impending recession, increasing inflation and a higher cost of living are encouraging British residents to move abroad, highlighting "fresher, brighter economies" such as Brazil, China and Morocco as popular choices.
The paper noted that London-based restaurateur Damon Kestle is planning to relocate to Brazil with his family.
Mr Kestle, 40, is going to move to a new housing complex in the north-east of the South American country and set up a new eatery.
He explained to the Telegraph: "Making money is not the only reason for going there, but I think we can expect a better standard of living. The economy is growing and I think in five years' time it will become the place to be.
"We come from Nottingham, which has a very high crime rate, and we are living in north London, which is full of knife crime, so I think Brazil is actually a better place to bring up a child. It is where we see our future."
The Brazilian economy expanded by almost six per cent in the first six months of this year, figures from the country's government revealed earlier this week.
According to a report in the Daily Telegraph, fears of an impending recession, increasing inflation and a higher cost of living are encouraging British residents to move abroad, highlighting "fresher, brighter economies" such as Brazil, China and Morocco as popular choices.
The paper noted that London-based restaurateur Damon Kestle is planning to relocate to Brazil with his family.
Mr Kestle, 40, is going to move to a new housing complex in the north-east of the South American country and set up a new eatery.
He explained to the Telegraph: "Making money is not the only reason for going there, but I think we can expect a better standard of living. The economy is growing and I think in five years' time it will become the place to be.
"We come from Nottingham, which has a very high crime rate, and we are living in north London, which is full of knife crime, so I think Brazil is actually a better place to bring up a child. It is where we see our future."
The Brazilian economy expanded by almost six per cent in the first six months of this year, figures from the country's government revealed earlier this week.
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