Congratulations to Brazil for winning the bid to host the 2016 Olympics! As the country says farewell to football fans around the world in 2014, just two years later a new influx of sporting professionals will be making their way to Rio de Janeiro for the 31st Olympic Games. A remarkable achievement for the south American city considering they bid against Chicago, Tokyo and Madrid and this is further evidence of the giant strides the country is making under the leadership of President Lula. During his acceptance speech the rightfully proud President stated “I confess to you if I die right now my life would have been worth it”. And he may be right, the effects on the economy of hosting the Olympic games cannot be underestimated.
Investment into infrastructure will take place on unprecedented scales, as transport and communication lines are upgraded to leave a lasting legacy, long after the final Olympian has returned home. A major event like this puts the country firmly on the global radar, the influx of foreign arrivals is likely to increase by the thousands and for those that enjoyed themselves, they are likely to want to come again giving a boost to the hotels and tourism industry. Crime is also predicted to fall as the city comes under increased scrutiny from the world’s media and the Olympic Committee. Finally, a large increase in foreign direct investment (FDI) especially in construction will create thousands of jobs from as early as next year. The knock on effects for the economy are going to be huge.
So congratulations to Rio de Janeiro and President Lula for securing the vote, the next decade in Brazil is certainly going to so very exciting, and if you like sport then you don’t need to think about anywhere else!
