Big brands target Brazil

20/08/2012

Brazil is tempting big names who are looking to take advantage of the country's burgeoning middle classes.

According to research conducted by Ernst & Young, of 250 senior executives polled, some 78.4 per cent saw Brazil as the most attractive Latin American nation to be trading in. This puts it well ahead of Argentina, which scored 44.6 per cent, and Chile, with 42.9 per cent.

Furthermore, 83.4 per cent of interviewees agreed that the country looks set to become even more appealing as an investment destination in the coming three years, while just 2.3 per cent forecast a decline.

Ricardo Amaral, chief executive of cruise company Royal Caribbean International, commented: “Three years ago my position was based in Miami and now it is in Brazil, the world's second top office in terms of results.”

Other chief executives noted that big businesses need to work together with the Brazilian government to ensure the continued growth of the private sector. However, many noted that things were on the right track in this respect.

The green sector was thought to be one of the leading future sectors of business in Brazil, with 23.8 per cent of those polled suggesting that Brazil could be a world leader in this area.