Brazil’s Boom Draws Americans Eager to Profit - New York Times (cost, safer)
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Foreigners Follow Money to Booming Brazil, Land of $35 Martini
RIO DE JANEIRO — Pondering the financial storms lashing Europe and the United States, Seth Zalkin, a casually dressed American banker, sipped a demitasse and seemed content with his decision to move here in March with his wife and son.
“If the rest of the world is cratering, this is a good place to be,” said Mr. Zalkin, 39.
For those with even the dimmest memories of Brazil’s own debt crisis in the 1980s, the global order has been turned on its head. The American economy may be crawling along, but Brazil’s grew at its fastest clip in more than two decades last year and unemployment is at historic lows, part of the nation’s transformation from inflationary basket case into one of Washington’s top creditors.
With compensation rivaling that on Wall Street, so many foreign bankers, hedge fund managers, oil executives, lawyers and engineers have moved here that prices for prime office space surpassed those in New York this year, making Rio the costliest city in the Americas to lease it, according to the real estate company Cushman & Wakefield.
Sounds good... And I could probably figure out Portuguese easy as I already know Spanish. I didn't really want to have to learn Mandarain Chinese anyhow. Plus Brazillian women are the most beautiful in the world and the music and beaches are tops as well.
Thought I sawBrizil markets were down like 27% year to year now.
Brazilian markets just accompanied the speculative panic in the world markets in the last weeks.
The problem with your year-on-year comparison is that it doesn't tell the whole history. Exactly one year ago, in August 2010, Brazilian markets were already 98% higher from the lows of early 2009. At that same point, Dow Jones was only 60% higher from the lows of early 2009. Brazilian markets recovered much faster from the early 2009 lows than American markets. So, the basis for year-on-year comparison is much higher.
Foreigners Follow Money to Booming Brazil, Land of $35 Martini
RIO DE JANEIRO — Pondering the financial storms lashing Europe and the United States, Seth Zalkin, a casually dressed American banker, sipped a demitasse and seemed content with his decision to move here in March with his wife and son.
“If the rest of the world is cratering, this is a good place to be,” said Mr. Zalkin, 39.
For those with even the dimmest memories of Brazil’s own debt crisis in the 1980s, the global order has been turned on its head. The American economy may be crawling along, but Brazil’s grew at its fastest clip in more than two decades last year and unemployment is at historic lows, part of the nation’s transformation from inflationary basket case into one of Washington’s top creditors.
With compensation rivaling that on Wall Street, so many foreign bankers, hedge fund managers, oil executives, lawyers and engineers have moved here that prices for prime office space surpassed those in New York this year, making Rio the costliest city in the Americas to lease it, according to the real estate company Cushman & Wakefield.
The number of working permit visas to foreigners coming to Brazil increased almost 20 percent in the first half of 2011, compared with the first half of 2010.
In Portuguese:
Emissão de visto de trabalho para estrangeiros cresce 20% este ano
O número de vistos de trabalho para estrangeiros aumentou 19,4% no primeiro semestre deste ano em comparação com o primeiro semestre do ano passado, segundo dados do Ministério do Trabalho. Foram concedidas 26.545 autorizações este ano, contra 22.188 em 2010.
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