Could South America be set for prosperous times ahead?

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South America is a continent that has long been associated with unstable economies, questionable political motives and despots looking to cling to power any way they can.

However, recent factors have emerged to suggest that the continent could be shedding this image in favour of a more prosperous, financially strong future. Below we look at the key factors which are driving this view;

Economic Growth: Brazil is one South American country that is looking to use key opportunities in the short term future to build for the long term. They are currently in the process of spending a substantial amount of money on infrastructure and facilities in anticipation of both the World Cup and the Olympics. The Olympic budget alone is said to be around $15 billion. But Brazil isn’t the only country on a steady upward curve. South America as a whole is attracting praise for its gradual climb towards economic stability, pointing towards as bright future for the continent as a whole.

Emergence of smaller South American nations: As a continent, South America has always been heavily reliant on countries like Brazil and Argentina to carry the financial burden. However, the emergence of countries like Bolivia from troubled times exemplifies the changing face of the continent. Bolivia has been struggling with problems centred on the rise in food prices over the last 6 months. Two national protests in the first two months of the year did not do a great deal to advance the view of a healthy economy. However, recent reports suggest they are on target to meet new inflation targets. This is a great example to other smaller South American nations around them regarding the power of recovery.

Transfer Money to Brazil

Are you looking to invest in Brazil? If you are, it is important to think carefully about how you will be transferring money to Brazil. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Brazil – which you will inevitably have to do if you are looking to make a property investment – make sure you compare the market before you buy your overseas currency.

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Could South America be set for prosperous times ahead?

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