rt 1: What Makes Brazil So Attractive?
Over the past decade Brazil’s stable and steadily growing economy has significantly raised the country’s clout in the international marketplace. Few people know that Brazil is the world's 6th largest economy and that it is Latin America’s largest and wealthiest country.
Brazil is not only a manufacturing giant with huge exports of products from heavy industry (steel, vehicles) and light industry (textiles, leather goods), but also an increasingly important destination for outsourcing of software development and call centers.
Brazil’s economy never suffered the same downturn as most developed countries. While much of the world is still mired in slow growth and recession, Brazil’s economic output keeps growing at a steady pace. The economy is expected to grow a record 7.3 percent in 2010, boosted by strong domestic demand and investments in the private sector. Unemployment in Brazil only rose slightly during the global downturn, and the unemployment rate has been steadily declining since 2008, reaching 7.2% by June 2010. Foreign investment has also remained strong over the past decade encouraged by the fiscal discipline shown by the Brazilian government. Thanks to these stable economic indicators Brazil had a record US$34 billion in direct foreign investment in 2007 and ranks among the most attractive countries for foreign direct investment—a clear sign that foreign companies have confidence in Brazil’s economic future and seek to expand their economic activities in Brazil. In addition, in 2008 Standard & Poor's, a Wall Street company that conducts financial research and analysis on stocks and bonds, upgraded Brazil's debt to investment grade for the very first time. This improved rating makes Brazil an even more attractive destination for foreign investment and foreign lending and is another indicator that Brazil will play a growing role in international financial markets. Foreign direct investment not only brings capital but also know-how and new technologies, which require experts and specialists from abroad–a great opportunity for foreign engineers, technicians, and specialists to find work in Brazil.