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The economic climate in Brazil has radically improved over the last 20 years. Its years of dictatorship and runaway inflation are well into the rearview mirror, and a strong democratic government focused on stabilizing the economy has generated miraculous results. Brazil has become an engine for job creation, which in turn has successfully brought millions of lower-income families into the middle class.

As the largest country in Latin America, Brazil has over 200 million people within its borders. The population has grown 17 percent since 2000. São Paulo, the financial hub of South America, is the largest city in the southern hemisphere, the eighth largest in the world and is predicted to be one of the fastest growing cities through 2025.

As a vibrant middle class has arisen, so has consumer demand for goods and real estate within and outside of Brazil. Suddenly wealthy, the upper-middle class is shopping for property as once only the upper class was able to do. Growth in consumer demand has in turn attracted international investors eager to participate in this emerging market.

This issue of Global Perspectives looks at how the Brazilian market has grown, its current challenges and outlook for the future, and where international money has been flowing. You’ll also learn how Brazil’s newly created wealth is having a positive effect on real estate markets in the U.S. and other parts of the world. Ola and welcome to Brazil!