I’m a huge soccer fan thanks to Brazilian great Pele, who introduced me to the game. So with the 2010 World Cup only a few months away, I was happy to read today that Brazil moved into the top spot in the FIFA World rankings .
This puts Brazil in pole position to go into the 2010 World Cup in South Africa as the world’s top-ranked team.
But Brazil’s world dominance isn’t limited to the soccer field. Brazil is also home to one of the world’s top-ranked economies.
Some of Brazil’s economic speed gauges are reaching near red lines.The economy grew at least 10% in the first quarter of 2010 and is forecast expand by 5.5% this year—though some economists expect the growth rate to reach 7%, its fastest pace in decades.
We’re talking about a country that 9 months ago lent the International Monetary Fund $10 billion dollars to help improve the availability of credit in developing countries. It’s the first time that South America’s biggest economy has ever made a loan of this kind.
In the past Brazil was more accustomed to seeking help from the International Monetary Fund and the fact that it is now able to offer a loan instead is a striking indication of how its position has changed.
The news about Brazil’s booming economy is dominated by big business, foreign investment, a huge consumer appetite, and the prospects of oil. But Brazil has also blazed forward as an entrepreneurial leader and represents a growing market for businesses wishing to expand their goods and services.
The Report is embedded in its entirety below:
Doing Business Brazil
Also be sure to read these additional resources.
- Embassy of the United States in Brazil
- Brazil U.S. Business Council
- Brazilian-American Chamber of Commerce