RIO DE JANIERO, BRAZIL-The real estate country of the year awardshould go to Brazil, which has turned its economy from high riskdue to hyperinflation, debt and volatile currency into anattractive investment vehicle with a mounting middle class and highGDP (compared to the rest of the world). An Ernst & Youngsurvey says this celebration could go on, as many savvy investorssay they plan to put at least a toe into the Brazilian pool.

Rogerio Basso with the company conducted the survey of 60international investors, including private equity fund managers,investment bankers and real estate developers. He says 40 of therespondents said they have earmarked investment dollars in the nexttwo years.

Basso, who concentrates on the hospitality market in Brazil,says many of the respondents indicated they are participating inhotel ownership and development. The hotel market is doing well inthe country because of locals and tourists, with demand faroutweighing supply. “The outlook is particularly promising, sinceBrazil will host the 2014 FIFA World cup, and the 2016 Olympics,”Basso tells GlobeSt.com. “But what is even better is that thoseinvesting in the country say they plan to hold onto theirproperties as a mid-to-long-term play.”