Brazilians give a boost to US retailers

12/20/2011 | Wall Street Journal, The

Brazilians have unseated wealthy consumers from the UK and other markets to become the biggest spenders in US tourist areas including New York City and Florida, taking advantage of their trips to buy everything from iPads to stylish fashions that cost twice as much at home. High taxes, inflation and an overvalued currency drive up the price of goods in Brazil, and some tourists save enough on their US shopping sprees to cover the cost of their airfare and hotels.

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