Graphci: Brazil Bubble
It is big news when Brazil beats the U.S. at anything — It wants to think of itself as the Brazilian New York. But it will never happen as long as the city has Maluf and not Robert Moses.
In 2012, The city of São Paulo received more direct foreign investment than New York and was dubbed the second City of the Future for the Americas, losing only to New York but defeating North America and Latin American cities in this regard, besting (Canada), Los Angeles (USA), Chicago (USA), Santiago (Chile) and Buenos Aires (Argentina), among others . The data is part of the study American Cities of The Future 2013 conducted by FDi Magazine with ties to the London-based Financial Times.
The director of Research at Brazilian Investments and Business (BRAiN), André Sacconato, points out that 2012 was a difficult year for FDI. Even so, Sao Paulo was not seem as particularly affected by this tendency “The city is consolidating itself as a base for FDI for Brazil and neighboring countries. Sacconato also noted that São Paulo accounts for 44% of the office space and multinational headquarters in Latin America.
Participating for the first time in the British rankings, Sao Paulo ended up in second place. “São Paulo has star power in the world of FDI. In 2012, it was one of the first cities to attract this type of investment on a global scale, in which the city represents 1.19% of all projects,” the magazine said.
For the BRAiN economist, despite this progress, the city still faces challenges to face it genuinely wants to consolidate itself as a base for FDI in the region. Among these is to improve infrastructure for the sake of the transportation sectors, and to improve the business climate“On this point, we note that these city is doing much to improve the environment, with the creation of a special Secretary of Licensing,which should facilitate the issuance of construction permits, making it possible to establish new businesses.
Taking into account only the results from Latin America, the second place finisher is Santiago (Chile) with Rio de Janeiro in third.
Taking into account only the advances in GDP in relation to FDI in 2012, São Paulo overcame the runner-up, Nova York. “Though FDI have dried up in general, taking into account only Sao Paulo there was 12% growth in FDI, which led to the city receiving 10% more investments than New York.
Perhaps. There is an unhealthy stink of real estate speculation, moral panic and savage capitalist exuded by all of us. I hope that Haddad will take some pages from Bloomberg’s book in tackling all this chaos.
The survey looked at 442 cities in five areas: economic potential, human resources, infrastructure, ease of doing business and cost-benefit profile.
Filed under: Brazil