Brazil’s Business and Consumer Environment: Future Growth, City Profiles and the Impact of the 2014 World Cup
As the World Cup approaches, Brazil has seen forecasted increases in jobs, foodservice sales and tourism. Over 3.63 million jobs have been created to support business demand, foodservice sales are expected to grow 5.9% and international arrivals are expected to increase by 10.1% to total 6.5 million in 2014.
However, many businesses are interested in tapping into Brazil’s consumer market beyond the World Cup. According to Euromonitor International forecasts, Brazil will become the world’s fifth largest consumer market in 2023, with total consumer expenditure reaching US $2.7 trillion in 2030.
Leading the long-term expansion of the Brazilian market is the rapid growth of the middle class, predominant urban population and the Brazilian consumer’s tendency to enjoy a high level of discretionary spending. Brazilian consumers prefer to live in the present, spending larger sums of money across all categories and therefore are more willing to take up loans and credit for their purchases.
“Brazil is a lucrative business market for companies to target, and not just because of the current impact of the World Cup,” said Euromonitor International’s Sao Paulo Country Manager, Marcel Motta. “However, to have a significant long-term impact on the market, businesses must understand the country’s economics, lifestyle and cities. Our e-book helps businesses get a glimpse into what makes Brazil unique and offers insight on the country’s business performance.”