Even before 2014, Brazil’s economy was one of the fastest nations to recover from the Great Recession. Since 2014, the economy has continued to climb showing the business confidence index at its highest rating. Part of the reason for the bolstered confidence increase can be attributed to two world events.
The first of those events came in 2014 when FIFA hosted the World Cup soccer event. In preparation for this event, the Brazilian government invested millions in the infrastructure of the country and economy to showcase to the world the beauty of Brazil.
The second world even put Brazil on an even grander stage when the country hosted the 2016 Summer Olympics and Paralympics. As Brazil did for the World Cup, they prepared the country for the Olympics. Between government and sponsoror’s funds, Brazil saw rapid growth economically, and in tourism.
Though Brazil has had its struggles economically in the past, the fact the government was willing to address some of the struggling infrastructure and make changes is a positive outlook for the future as Brazil will now begin to compete on the World stage as a world power. The business confidence will continue to climb beckoning outside conglomerates to invest in local companies and inject millions more to strengthen the national GDP.
As the economy improves, and the infrastructure strengthens, this creates better jobs, higher skilled jobs which also opens the door for higher educated applicants. With better schooling and jobs, the middle class will start to grow shrinking the poverty scale between the haves and the have-nots.
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As the decline in poverty starts to take shape, opportunities for everyone will become a reality, even if that is a “feeding from the breadcrumbs” scenario for most, the breadcrumbs will now be larger. With a larger middle class, there is certainly more wealth to share, but also more opportunity for service and causes that help the less fortunate. The wealth becomes more distributed.
Brazil’s economy has been a model for other countries to follow. A mapwork of how to pull out of recessions and bask in the success of economic growth.