WealthInsight, an independent research firm forecast a 22% increase in Brazilian millionaires by 2018 hitting a combined wealth of $1.3 trillion.
“Brazil’s high net worth individuals’ wealth has increased substantially, finding high levels of growth in real estate, which will be influenced further by the World Cup and Olympics over the next two years,” said WealthInsight analyst Tom Carlisle in the report. The knock-on effect could see improved investment in transportation networks increasing trade channels for Brazil and provide the smaller Brazilian cities with a chance to advertise their opportunities “which in turn will lead to increased opportunities in foreign direct investment.”
The comparison was made between the 2010 World Cup hosts South Africa, who saw its millionaires rise by 28% with a 163% leap in foreign direct investments. “Vast sums of capital were invested in infrastructure and technology, which has paved the way for the increase in transportation networks producing wealth,” wrote Carlisle.
Although Brazil did not win the World cup, the funds invested into the country’s infrastructure and development has paved the way for a successful 2016 Olympic Games, bringing in even more tourists worldwide.