Aware of Rio de Janeiro's growing importance
on the global market, I LOVE RIO provides a wide range of information
about the city's economy, suitable for business people, entrepreneurs
Useful ideas on how to conduct business and engage
with local market culture are provided, to both increase understanding
and awareness. Expanding industries and local enterprises are positioned
centre stage, along with techniques and useful contacts for engaging
local entrepreneurs and develop successful ventures. By connecting
readers directly with institutions and businesses, the Website also
promotes commerce and local development.
INFRASTRUCTURE AND RESOURCES
The economies of Brazil and of Rio de Janeiro have
gotten stronger over the past decade: innovative macroeconomic policies,
the discovery of additional natural resources, and meaningful social
reforms have helped increase exports and present Brazil as an attractive
Strategies for the betterment of underdeveloped
areas, strong backing of private enterprises, and multi-billion
initiatives to improve general infrastructure such as communication and
transportation are top on the agenda of federal, state and municipal
governments - resulting in a dynamic economic climate attracting
international investors and commercial enterprises.
Government agencies have allocated funds on an
unprecedented scale to improve infrastructure and facilities throughout
the country, setting the stage for a bigger workforce, and more
opportunity for investments in the future.
The Brazilian government has positioned Brazil as a
global leader, by offering aid to neighboring countries, heading United
Nations missions, and partnering with African and South American
countries to develop infrastructure and joint ventures.
Rio de Janeiro is the cultural capital of Brazil and
a major financial, commercial, and transportation center. After São
Paulo, Rio de Janeiro is the Brazilian city with the second major gross
domestic product in the nation, Estimated at about 150 billion reals per
year. The metropolitan region constitutes the second largest national
hub of wealth, and 70% of Rio de Janeiro State's economic strength.
Benefiting from being the federal capital of Brazil
until 1960, for nearly two hundred years, Rio evolved into a vibrant
administrative, financial, commercial and cultural center.
The city is home to a solid infrastructure with an
important seaport, an international airport, a domestic airport, two
subway lines, several inter-municipal railway lines, and a public
transportation network of hundreds of bus lines and thousands of buses.
Rio is the headquarter of major private and state
financial, telecommunication, and entertainment companies. The recent
discovery of oil in the Campos basin resulted in Rio being the main base
of several Brazilian and foreign energy, oil, and gas companies. In
fact, Brazil's subsalt region, a huge deep-sea area of oil reserves
under a thick layer of salt, could hold up to 100 billion barrels -
providing a huge demand for rio-based services.
The city is a leading financial and banking center,
and Rio's investment activities include real estate development, funds
management, and the second largest stock market in Brazil. Created in
1845, the Rio de Janeiro stock exchange, was the first stock market to
be established in Brazil, trading today exclusively government
Shipbuilding, metallurgical, refineries, gas and
petrochemical, pharmaceutical, textile, food processing, and furniture
industries are based in the city. Furthermore, major Brazilian
entertainment, television, printing, and publishing organizations have
operations in the metropolitan region.
The presence of a major seaport resulted in Rio de
Janeiro being a vital hub of international import and export activities,
along with coastal trade with other areas of Brazil and South America.
Tourism and entertainment are major aspects of
Rio's economic life, as the city is a major destination for both
Brazilian and foreign visitors alike, with the potential for
international tourism continuously evolving. The city is expected to
grow significantly in this area, in part as a result of the hosting
of major international events such as the soccer world cup in 2014
and the Olympics in 2016, that brought an influx of funds, dozens of
new hotels, and potential to an already booming market.
Coastal Rio de Janeiro State, has one of the
strongest tourism and economic markets in the world - it is also the
most popular destination for the majority of the 50 million Brazilian
tourists who vacation nationally each year.
Historically, the service industry has been the most
important part of Rio de Janeiro's economy, and along with small trade
keeps the city thriving all year round. Thousands of large and small
enterprises manufacture and trade food, clothing, appliances, furniture,
cigarettes, leather goods, jewelry, arts, and crafts. Recently, the
manufacturing of electronics and computers has begun to play a stronger
role in the economy.
There are over 200,000 registered businesses in Rio,
offering a host of different products and services. A vast majority of
these companies are micro and small, with less than 100 employees. The
service and public administration sectors make up over 70% of total jobs
in the city, commerce accounts for around 16%, industry 10% and civil
Rio de Janeiro is also home to nearly 24,000
industrial companies that provide jobs for over 800,000 people. A much
larger middle-class and an expanding economy have driven the demand for
young professionals with higher education, making of the city a new land
of opportunity. Brazilian brands populate South American households, and
are actively expanding into global markets, with Rio de Janeiro and São
Paulo being at the heart of this expansion.
Favorable factors for current investment in Rio
include expansion of the internal market and demand for commodities,
investment in public security, high quality marketing and events
platforms and the availability of talent.
Rio de Janeiro's population is about 6.4 million
people, reaching nearly 12 million people when including the greater
metropolitan area – an even larger consumer market appears when
taking into account the over 1.6 million visitors that visit Rio
Specialists predicted that there will be R$ 488
billion invested in the Brazilian Oil and Gas sector between 2014 and
2017, and most of this will be concentrated in Rio de Janeiro, where a
vast 80% of the country's resources reside.
Rio offers room for growth and significant business
opportunities in the shipbuilding industry, road infrastructure, ports,
airports, telecommunication and tourism. The city holds the third
largest port and shipping district in the country, and huge investments
are underway for its renewal and expansion.
The growing population and improved infrastructure
of favelas, jointly with increasing income of residents, have
attracted more and more commerce and trade to Rio's less developed
areas. This new business strengthens local community economies, and
tangibly increases the income and quality of life of residents.
Studies and data show that growing demand generates ample
opportunity to expand trade and commerce to meet local needs.
Exponentially increasing interest and commitment to
business enterprise has been met with concerted efforts by
governments and non-government organizations to nurture and support
the development of local favela economies, seeing in their growth
the potential for a stronger and more united Rio. Seminars,
workshops and talks are regularly hosted to promote entrepreneurship
and support existing businesses.
The Serviço Brasileiro de Apoio às Micro e
Pequenas Empresas (Brazilian Service to Support Small Businesses),
or Sebrae, has promoted the development of local businesses in
pacified communities since 1996. In 2011 it developed a project
supporting over 60,000 entrepreneurs through meetings, as well as
the provision of targeted advice and training.
Rio's commercial reputation and potential has been
enjoying a condition of continual growth and as such, the scenic
setting of the city acts as fertile breeding ground for consumers,
producers, and specialists to shape the international landscape in
In light of increased investment interest, Rio de
Janeiro plays host to a number of prestigious fairs and conventions
where consumers and producers share ideas, network and innovate. The
city holds a biennial Oil and Gas fair and conference with over 1,500
participants, hosted by the Institute of Oil, Gas and Biofuels, as well
as the annual, international Navalshore fair.
An important fair for vitamin and protein products,
and another for sports attire and equipment attest to the strong market
for products related to fitness and health. Concurrently, the fashion
industry in Rio has been growing in breadth and reputation over the past
years, and the city now hosts a variety of fashion fairs and events.