Thread: Latin America's wealthy prosper

I just got this in my mail box

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LatinFinance
Daily Brief


Latin America's Wealthy Prosper


Latin America's wealthy individuals posted the biggest increase in wealth accumulation last year, a 23.2% jump in 2006, representing the fastest growth of any region in the world, according to the 11th annual World Wealth Report, released Wednesday by Merrill Lynch and consulting firm Capgemini.


Average GDP growth of 4.8% for the region, higher company valuations and an uptick in foreign investment increased individual prosperity, with Argentina, Brazil, Peru and Chile's wealthy benefiting the most. Brazil alone registered a 10.1% jump in the total number of wealthy individuals.


China's growing demand for commodities, as well as its mounting direct investments in the region are driving wealth accumulation in Latin America. China accounted for roughly 16% of all foreign direct investment in LatAm last year; up from 2.9% in 2000, according to the report.


While portfolio flows continue to pour into Latin markets, the region's wealthy are choosing not to invest their money at home. In 2006, they were the only group of high net worth individuals in the world to increase their investments in North America, most noticeably upping investments in real estate from 11% to 25% of their portfolios.

I just don't understand why that country hasn't had a revolution.

While portfolio flows continue to pour into Latin markets, the region's wealthy are choosing not to invest their money at home.

This is what I have been saying forever.. no domestic investment makes the rich get richer and the poor wayyyyyyyyyy poorer.

Someone needs to do something in these countries to force wealth distribution.