Knocking on the doors of Brazil—how ‘agility’ and ‘local know-how’ are critical in unlocking opportunity
- Vol.53(4), April
- Mumbai Indian Journal of Pharmaceutical Science 2021
- 10-11p.
‘Most global CEOs have quoted Brazil whenever they are talking about growth.’ I came across this flashy statement while I was attending an investment summit organized by one of the Brazilian states for inviting global companies to invest in Brazil. So, the writing is on the wall and it is not wise to sit on the fence for any decision-maker who is planning for future growth. Just for a perspective, below are some numbers that highlight the opportunity called Brazil. Brazil happens to be the 5th largest country and all the countries of the European Union could fit inside Brazil’s border twice over. This significant area supports a growing population of roughly 210 million making it the 6 th most populous country in the world. Almost 85% of the population resides in the urban areas of Brazil and has concentrated mostly towards the coastal areas away from the Amazon rainforest. Apart from being the 9 th largest economy globally, Brazil happens to be the single largest economy in Latin America. With a per capita GDP of USD 8,717 as per the World Bank, it is ranked well above most of the emerging economies from Latin America, Asia and Africa. With the changing political scenario, it is expected that the per capita GDP shall be on the rise from a medium to long term perspective.