As developed nations in Europe and the US have struggled to keep from slipping into recession, Brazil's economy has, for the most part, continued to gain strength.  One sign of growth in Brazil is the increasing number of wealthy Brazilians.  At Forbes, Ivan Castano reports that Brazil's population of millionaires is now growing at a rate of 19 per day:

Individuals with a net worth ranging from $539,000 – $2.7 million ($1m-$5m reais) make up the bulk of the new millionaires, [Guilhermo] Morales said, adding that most private banks tend to individuals whose net worth falls below $5.4 million ($10m reais).

“I think that this trend will continue for the next three years but I don’t see it lasting forever. After all, there is a limit to everything,” Morales noted.

Brazil’s economy has been growing at an annual average of 5% in recent years and is predicted to maintain that pace in the medium term. However, some economists have warned that the country’s economy could overheat as inflation rises to unsustainable levels.

The 19-millionaires-a-day statistic was measured by taking all of an individual’s wealth into account, including investments, property, savings and other assets in addition to cash. Some in the private banking conference said the statistic seemed a bit overhyped but Emerson Pieri, Head of Wealth Management, Latin America, at Haliwell Bank (which unveiled the millionaire statistics as part of a Brazilian wealth management study) insisted they are reliable.

Read Brazil's Booming Economy Is Creating 19 'Millionaires' Every Day here.