The big news this Christmas shopping season was the noticeable impact of Brazilians on the economy in New York and Miami. The New York Times picked up on this and offered some interesting stats on how Brazilians buy and why. For the most part, goods of all kinds are simply cheaper in the United States. Brazilians who buy second homes in the US are also seeking safety but the primary goal is easy acquisition of luxury goods.
The passion for fashion goes so far as to make Orlando, Florida a destination for Brazilian outlet-store shoppers who remain unimpressed by that city’s main attraction, Disney World:
Brand-conscious Brazilians love to use their money — cash, above all — ranking first per capita in spending among the top 10 groups of foreign visitors to the United States, a list that includes the French, British and Germans. In all, 1.2 million Brazilians visited in 2010 and spent $5.9 billion, or $4,940 for each visitor. Only travelers from India and China outspent the Brazilians, but far fewer visit, and they are not among the top 10. […]
“We come to Miami to invest because in my country housing is very expensive,” said Claudio Coppola Di Todaro, a hedge fund investor from São Paulo who recently bought a condominium at Trump Towers in Sunny Isles Beach and another at the Trump SoHo in Manhattan (Brazilians also love New York). “We like Miami to go on vacation a few times a year. Many Brazilians do this now.”
Miami Has a Hearty Oi (Hello) for Free-Spending Brazilians (New York Times)
