The real estate industry in Brazil has been buoyed by a new survey that shows that hosting an international football tournament will do more to boost a nation that any other sporting event.
With excitement already building for the FIFA World Cup in Brazil 2014, the report from tourism marketing experts, Pangaea Network, says that the majority of travel professionals agreed that football tournaments are four times more popular than motor racing which ranked in second place.
Earlier this year, Brazil’s Minister of Sports said that the World Cup is expected to bring in about US$5 billion for the tourism industry and 710,000 jobs of which 330,000 would be permanent. The effect on Brazil’s GDP through to 2019 is predicted to be over US$65 billion as a result of the investments, consumption and tourism that will continue in the aftermath of the World Cup.
According to Samantha Gore, sales manager for Brazil estate agents uv10 based in Natal, it will be a wonderful opportunity for Brazil to show its other assets as well. ‘With 12 host cities spread around the country, including Natal in the northeast, Brazil will be given the chance to demonstrate its breathtaking beaches, heady metropolises, a wildlife rich interior and, most importantly, the notable progression of the nation in recent years,’ she said.
‘Upgraded airports, monorail systems, new hotels, improved telecommunications and latest generation stadiums will be revealed for the world to see that Brazil is serious, stable, reliable and has transformed significantly both socially and economically,’ explained Gore.
‘With regards to real estate, it’s never going to be an exact science to predict the impact of a World Cup on the property market but it can only be positive. In 2004, FIFA selected South Africa as the first African nation to host the World Cup finals. In 2005 real estate prices in South Africa rose by a significant 35% and, whilst it can’t take all the credit, the prospect of staging a global sporting event in 2010 was a major driver,’ she said.
‘We’re already seeing many more pure investors who are taking Brazil’s local market very seriously indeed and see the forced improvements in infrastructure as an extremely good thing as they make the Brazil much more accessible to visitors, improvements that will continue as Brazil gears up for the Olympics in 2016,’ she added.