Following the success of our 5 part blog 20 Reasons to Invest in Brazil and after genuine positive feedback we have decided to provide our readers with ‘12 Reasons to Invest in the North East state of Paraiba‘ which will be spread over the next 3 issues.
Paraiba is a coastal state named after the river of the same name. Apart from a popular tourist destination it is also an important epicentre for industry and is acclaimed for its beautiful beaches, pleasant climate and cultural and geographical diversity. Paraíba occupies a total area of 56,584 square kilometres or 21,847 square miles and is home to approximately 3.9 million people although this number is growing year on year. Joao Pessoa is its capital city and the home of many of its most popular attractions and activities.
Portuguese settlers founded Filipéia de Nossa Senhora das Neves (which is now known as João Pessoa). When it was discovered that this region yielded extremely fertile sugar plantations, different European entities of France, Portugal and Holland Netherlands began to fight over it. The Dutch powers became a substantial threat to Portugal, who managed to retain supremacy in the country.
In addition to the sugar-cane that is so amply available in Paraíba, it was discovered as late as in 1989 that the area is also particularly rich in tourmaline crystals, which displays a gorgeous neon turquoise.
But if that’s not enough to get you interested, here is part 1 of our 3 part blog Reasons to Invest in Paraiba starting with our favourite 4.
1. The service sector remains Paraíba’s most important in terms of its GDP (Gross Domestic Product) contribution. This is followed by industry and agriculture. Its main agricultural products include corn, sugarcane, pineapples, beans and beef. Paraíba exports cotton, footwear, sugar, alcohol, seafood and sisal. Another very important contributor in terms of the economy and growing rapidly is tourism.
2. Brazil is friendly to foreign investors and nowhere more so than Paraiba. Don’t forget that although industry is a growing factor, Paraiba is still seen as a major holiday destination not only for Brazilians but for the growing international visitor. Property buyers from abroad are protected with the same rights as Brazilians and have full legal protection.
3. The year round sunshine means you can easily rent out property in Paraiba to tourists any time you’re not there. Many foreigners live in their properties for half the year and rent them out when they’re away, creating a valuable income source.
4. Massive private and state investment in the north east of Brazil has resulted not just in a thoroughly developed infrastructure of roads and public transport in Paraiba but also in healthcare and education services. Couple this with new leisure facilities including U.S style shopping malls and you have all the ingredients for a modern tropical paradise. Tourism is up with the number of people buying second homes or holiday retreats soaring. The state of Paraiba is seen as a market leader.
Look out for part 2 of our 12 Reasons to Invest in Paraiba which will be published next month.