Most of them, 79%, already knew the country before investing and since 2007 they have invested a staggering $646 million in buying property.
The study by economics professor Fundação Getúlio Vargas also shows that those living in the United States invested the most ($102 million) residents in Spain spent $82 million and Italians $63 million.
The study will enable the government and the private sector to target investment and policy to boost investment, according to the Association for Real Estate and Tourism Development in the Northeast of Brazil.
'It is immensely helpful to know the profile of these investors. This will allow our country to set public policy for the sector. The Northeast is a region of great attraction for foreigners,' said spokesman Felipe Cavalcante.
EMBRATUR, a division of the Ministry of Tourism, which commissioned the study, praised the efforts of Brazil's president in raising the profile of the country. Jeanine Pires, President of EMBRATUR said; 'President Lula's strategy calls for consumer awareness about Brazil and aims to attract more tourists to the country, particularly from the US where the government has set a goal to attract nine million holidaymakers per year.'
He confirmed that the main government strategy is to focus on five key attributes – sun, beach, eco tourism, sport, business and events. 'It is encouraging that the majority of foreign investors come here because of the sun and the beach. It means our strategy is working,' he added.
The main role of his department is to promote Brazilian destinations, tourism products and services. It works alongside other government agencies working on infrastructure including road building and improvement, ports, airports and energy.
