A country of “Nouveaux Riches” .. yet Brazil is 3rd income inequality

Luxury items? Doing fine thank you.

A recent survey by consulting firm PonteEstratégia revealed that middle class Brazilians(earning R$1,500-R$5,000 per month) spend 30% to 60% of their income on luxury items.

The Copacabana Palace Hotel: destination for the HNW

On the same note, GFK institute and MCF consultancy announced that the luxury market in Brazil will grow more than the economy as a whole; 23% against the GDP forecast of 7.2%,  Last year, sales in the sector grew 12% YoY, and average consumer spending was R$2,726.00 per purchase.

Social contrast
It is difficult to understand how a country with such high economic rates, repeatedly on the news with stories of success can be the 3rd worst in the world in terms of income inequality.

Published by Hildete Vodopives

Hildete de Moraes Vodopives is founder of Brazil Global and of the Harvard Strategists Group. She has a PhD in Economic History and advises companies and investment agencies in international business development.She served as Corporate Relations Director and later, on the board of the Brazilian Investment Analysts Association (APIMEC).

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