Growth forecasts for Brazil remain modest for an emerging market.
The Organization for Economic Cooperation and Development has recently lowered the 2014 economic growth projection to 2.1% from 2.2% previously, way below India’s 5.1%.
Brazil’s currency, the “real”, has depreciated by about 15% since the beginning of 2013 and the public sector spending of about 3.77% of GDP is expected to rise next year.
2014 is an election year and President Dilma Rousseff will seek reelection amid concerns over inflation and the country’s preparations to host the World Cup.
Despite the grim economic outlook, the Brazilian market remains attractive for Silicon Valley tech companies.
With almost 70 million internet users, Brazil has the second largest active users of Facebook and Twitter and the third largest of LinkedIn.
The country is the fourth-largest mobile phones market in the world and the number one app developer in Latin America thanks to the nationwide entrepreneurship’s boom and a vibrant accelerator scene.
On January 15th our guest speakers will reveal their expectations for Brazil in 2014 & discuss how tech companies plan to navigate the business climate in the country.