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More Brazilians Buying Vineyards in Argentina & Uruguay

Source: InvestBA
02.20.2013

No longer content with the “turista” wine label, more Brazilians are seeking turnkey vineyard opportunities.

Exactly one year ago, we shared the news that Mendoza is now the second-most popular destination for Brazilians in Argentina after Buenos Aires. According to the Ministry of Tourism, the southern region of Mendoza was the most sought after in January with San Rafael topping the list of visitors and hotel occupancy with 92%.

Now, one year later, it seems many Brazilians are no longer content with the wine label of turista. According to BBC Brazil, more Brazilians are buying vineyards in Argentina in order to produce their own wines for export and enjoyment.

One large Mendoza winery recently made 390 acres (158 hectares) of land available for foreign buyers, says BBC’s Marcia Carmo, and Brazilians bought 18 of the 22 lots. The Brazilians were attracted to the turnkey offering which allows them to access to an existing vineyard and profit from the eventual sale of harvested grapes without incurring the start-up costs of launching a new vineyard.

BBC’s Marcia Carmo interviews one Sao Paulo pharmaceutical executive who plans to a.) sell the grapes harvested from his private vineyard to cover annual maintenance costs and b.) use the excess grapes to produce his own private label wine to share with family and friends back home in Brazil.

Simultaneously, as the number of Brazilians vacationing in Uruguay grows with each passing summer, more Brazilians are beginning to invest in Uruguay vineyards for sale in regions like Canelones and Montevideo. Media coverage of the surge in Tannat’s popularity will only encourage future investments from aspiring winemakers from Brazil.

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