UK just behind States in investing in Brazil

Ernst & Young, which compiled the report, said that a booming Brazilian economy is attracting increasing interest from fast-growth businesses in Yorkshire.

While the US still tops the investment league tables for Brazil, UK investors created 21,040 jobs in the Brazilian economy, coming from 45 investment projects, valued at over US$12bn in 2011 – almost one per cent shy of the total value of all US projects in the same year and nine per cent of all total foreign direct investment (FDI) into Brazil.

The total number of UK projects in Brazil last year was up 125 per cent on 2010, propelling the UK from fifth to second in just 12 months, with the US leading at 149 projects. Nearly 60 per cent of total FDI projects from the UK were in the Southeast region of Brazil, primarily Sao Paulo.

Yorkshire senior partner David Buckley said: “A stable economy, growing middle-class, burgeoning domestic market and huge untapped reserves of natural resources, have led UK investors to become increasingly interested in Brazil as an investment destination.”

E&Y said there’s a wealth of un-tapped opportunity in Brazil for UK mid-market companies and SMEs willing to take a risk.