Small Business Labs:
For many years Brazil has jokingly been referred to as “a country that will always have great potential.” But over the last decade, and in particular the last 3 years, Brazil has experienced strong economic growth. Key quote from a recent Wall Street Journal article:
A recent study by the local office of the French research firm Ipsos found that since 2005 more than 20 million people had entered the middle class, defined here as families with monthly income of around $635. The percentage of middle-class Brazilians has grown to 46% from 34%.
The new middle class has propelled a doubling in the domestic market for cosmetics, home electrical appliances and computers since 2002, according to Euromonitor International. In the computer sector, middle-class buyers are accounting for about 40% of sales, according to market analysts. Brazil now ranks fourth globally in computer sales behind the U.S., China and Japan.”
Brazil has always had enormous natural resources and has benefited from the run up in soybean, iron ore,timber and other commodity prices. While many remain skeptical and major problems like crime and corruption exist, the future looks increasingly bright for Brazil.
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