Today, many news articles on Brazil is what came to me as great reading material. Brazil is the second largest economy in the western hemisphere, and the country has produced a negative gdp for the past two quarters. The country's currency, Brazilian real, is plummeting. The country's unemployment is rising quickly. Also, the country's president, Dilma Rousseff; has an approval rating of 8%.
With all of these debacles happening in the country, how will the 2016 Olympic games be affected? If you are an optimist, then you hope the Olympic games will not endure the recession or further distress. Brazil is associated with BRIC, and it's an emerging market economy. Yet, China and Brazil are going through tough times. So, is the BRIC the right area to invest in?
Furthermore, one of the main reasons for Brazil's recession is the major corruption in the country. Petrobras, Brazil's state-run oil company, is going through a major money laundering scandal. Electrobras, a large Brazilian utility company, is going through a major money laundering scandal too. In addition, the people of Brazil are protesting for Rousseff to be impeached.
Finally, let's look at this experience from a foreign traveler's viewpoint. Would you want to travel to a country where your life could be in economic jeopardy? As a traveler, you could be exposed to the protests plus a falling currency, etc. In the end, think before you spend. Business travel will decrease to this nation, and other South American countries economies could lose steam.
In closing, let's hope the Brazilians can turn the tide before the 2016 olympics start. Hope you enjoy the picture above, of the Brazilian flag. It is a cosmopolitan symbol for the author, and it should remain one of strength and resilience.
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