Brazilians Broaden Horizons with $45 Billion Abroad

In 2023, Brazilian investors poured $45.18 billion into global markets, up by 12.5% from 2022. They achieved a net balance of $4.37 billion, moving from a $142 million deficit.

This information comes from Banco Central’s external sector report, covering both personal and business portfolios.

This growth marks a rebound from a 2022 slump, yet it’s still below the pandemic peak years. Back then, low local rates and booming US stocks drew Brazilians overseas.

A shift has occurred: more individuals are investing abroad. Fintechs have simplified access to foreign stocks, reducing costs compared to banks.

They offer easy exchanges, debit cards, and direct investments.

XP saw its accounts jump by 153% in 2023, with assets under management up by 358%. Diego Correia at XP linked this to the global lifestyles of their clients.

Since 2019, Avenue has led in offering international accounts, doubling its assets to R$17 ($3.4) billion in 2023.

C6 Bank and Inter also saw jumps in global account openings, with Nomad’s accounts soaring by 160%.

Central Bank figures show that fixed-income investments abroad totaled $2.87 billion, edging out equities at $2.45 billion.

Brazilians prefer S&P 500 and Nasdaq ETFs, big tech, and bonds, especially those drawn to the US for its high yields and strong company performances.

This trend underscores the growing global focus among Brazilian investors, driven by easier access and a desire for diverse, high-performing investments.

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