Rio De Janerio Economic Impacts

Rio de Janerio, Brazil hosted the Olympics this year and became the South American country to do so. This exciting to the People of Brazil for many reason to include, a huge economic boost, and also a boost to the outdated infrastructure they have. This would help create more jobs and also bring a long lasting effect to the countries government. With this major event, Brazilians are positive this should bring, tourism, employment and strengthen the economy. One of the major nods to have the country host the Olympics is the progress that the country has made. While there is no doubt that this impacts the economy, provides temporary jobs, and influences foreign investment. Much of the impact is to the already wealthiest people of the country.

In the short terms of things in the Brazilian stock market rose 12.5 percent in the year to date ending since the Olympics. The world Trade Credit Insurance projected a 0.4 percent Inflation increase from the Olympics alone. They also forecasted a 5 percent increase in Rio de Janiero based companies filing for bankruptcy protection and a 12 percent increase in small business loan defaults. The Olympic infrastructure total investment reached just around $38.5 billion, which is miniscule to their $2.2 trillion dollar economy. They also look to gain a $1.3 billion from tourism. On the surface this may all look good but it just seem to not be enough to offset the major economic turmoil that plagued Brazil even before the Olympic games. Inflation may even be significantly worsened by the games. All in all infrastructure investment and public spending on safety and organization has increased Rio de Janiero’s debt by 17 percent. So with all the money spent and jobs made Rio still hasn’t a total affect from the games theres still a chance to see some improvement in the economy, but they are still in a economy recovery

With 11,000 athletes competing and over 140,000 people were needed to host the games, 90,000 as employees and 50,000 volunteers. Hosting the Olympics for cities in today’s age brings attention and helps the cities make a name for themselves. With investment to the infrastructure it helps the communities. It helps open up jobs, creates nicer areas for people to meet up and have better areas and also helps clean up the favelas. Helping the people come out of poverty. A big problem among the community in Rio was the Zika virus spreading from dirty polluted water gathering up mosquitos, spreading the virus to the people. With the money spent on infrastructure they invested in new pipes to address water quality in the Guanabara Bay sailing venue, which had high levels of viruses and bacteria. Since being installed the IOC have tested the bays waters and the levels have been drastically improved. With everything else to come from the Olympics it brought more of a sense of community and pride to the Rio community by bringing cultures together and giving Brazil more of a national pride. Brazil won more Olympic medals then they have in any other Olympic games and gave the country regained sense of community and pride to help come together and fix there government and economic problems. All helping to bring there people out poverty and improve their country. With The country coming together to the help the