We announced today the opening of an office in São Paulo, Brazil, one of the world’s largest and fastest growing consumer markets.
The Brazilian economy is the largest in Latin America, accounting for more than one third of the region’s GDP. The country is rich in natural resources and is a leading producer of sugar, ethanol, coffee, meat, soy bean and iron ore. In recent years, Brazil has established its position as one the world’s leading emerging markets due to its diverse domestic market and growing international influence.
Euromonitor´s Chairman, Robert Senior notes, “The office in Brazil extends our infrastructure into a market that is very important to our client base. Brazil has abundant opportunities but it is also a complex market. Many of the Brazilian firms are expanding beyond their borders as well and are becoming influential players on the international stage. Euromonitor already produces content to help make sense of the global market and a local team will only develop our capabilities beyond where they are currently.”
Rapid growth in India and China altered the world economy in ways that directly benefitted commodity exporters such as Brazil. One of Brazil’s key strengths is its large and fast-growing middle class which is helping drive the economy. Brazil´s other competitive advantages are its abundant natural resources, large workforce, young population and low labour costs to help maintain its place in the world economy in the coming years.
According to Brazil’s Research Manager, Marcel Motta, “Brazil is the third largest market worldwide in consumer industries such as beauty and personal care and pet care and it occupies fourth place as largest market for consumer appliances, consumer electronics, home care, packaged food and soft drinks.”
Euromonitor International’s new office provides a stronger base to conduct local research tools and the opportunity to be closer to the market and consumers in Brazil.