W
hen the good and the great of international sports flocked to Rio de Janeiro and entered the spectacular Estádio do Maracanã for the opening ceremony of the 2016 Olympic Games under the gaze of Cristo Redentor, it felt for all the world that Brazil had arrived. Finally, this sleeping giant of the global economy, steeped in an ornate culture of arts, sports and entertainment was ready to realise its potential. But, fast-forward to today, there is still work to do for South America’s most advanced economy. Many regard Brazil’s Olympic legacy as a fallacy, as stadiums have become dilapidated and economic recovery has slowed. Rather than announce its arrival as the South American superpower, the global spotlight on Brazil’s games reopened the scars of a developing
nation in the eyes of many. Spending on the games had come at the expense of industry, infrastructure and the people. The warning signs were apparent two years previously when protesters took to the streets to complain about national expenditure on the 2014 FIFA World Cup, even despite a national obsession with football. The overriding message was that Brazil wasn’t ready. For beneath the outward projection of prosperity was a soft underbelly of underdeveloped infrastructure, for which it would pay a heavy price in the long term. As well as economic commentators, some of Brazil’s national heroes such as Pele expressed concern regarding Brazil’s perceived lack of investment in infrastructure – a grim reality behind the carnival.
EMERGING HIGH-TECH BUSINESS HUBS Brazil may be the ninth largest economy in the world but it is one of the most complex. It covers everything from the vast rivers and rainforests of Amazonia to metropolises such as São Paulo – the most populous city in the Americas. Brazil is also the fifth largest country in the world in terms of both land mass and population. While the natural and urban geography doesn’t make it an easy country to travel around, Brazil now seeks to overcome these barriers and achieve parity with its economic counterparts in terms of its technological infrastructure.
POWERING THE GROWTH OF THE BRAZILIAN DIGITAL ECONOMY BY GENIUS WONG
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