Survey finds foreign investors bullish on Brazil

AP News
Posted: Aug 10, 2012 12:00 PM
Survey finds foreign investors bullish on Brazil

SAO PAULO (AP) — One of world's largest accounting firms says foreign investors remain bullish on Brazil despite a sluggish economy.

Ernst & Young says in its Brazilian Attractiveness Survey that the country's "stable economy, burgeoning domestic market and huge untapped reserves of natural resources have led foreign investors to become increasingly interested in Brazil as an investment destination."

The survey released on Friday says that direct foreign investment in Brazil has more than tripled since 2007, going from $19 billion to $63 billion in 2011.

Ernst & Young's chairman and CEO Jim Turley says Brazil's hosting of the 2014 World Cup and the Olympics in 2016 "will contribute to infrastructure development and act as a catalyst to attract significant additional investment."