As you begin doing business in Brazil, you will quickly learn that soccer is one of this nation’s many passions. The country is poised to host the World Cup in 2014, and leaders are concerned about the potential for price gouging as tourists plan their trip to see this Holy Grail of soccer events. The FIFA World Cup draws visitors from every corner of the country, and its economic implications can be felt throughout the nation.
Brazil’s tourism board has estimated that prices for hotel rooms may be inflated as much as 500 percent, and flights from Rio de Janeiro to Sao Paulo could cost as much as a flight from Brazil to Paris, making travel during the match significantly more expensive. If you will be traveling to the country to monitor your business dealings, you may want to start planning, now, to avoid unnecessary expenses.
The government is concerned about this sudden increase in pricing, as it expects more than a half-million foreign visitors to the country, in addition to local visitors. Prices for business meeting conference rooms are also a concern, as the cost is reported to have risen to $800 for the rental of one room. Luckily, Brazil’s anti-trust organization is feverishly working on a solution to this problem.
The longer your company continues doing business in Brazil, the more accustomed you will become to these price fluctuations. With more and more businesses being drawn to the country, the government is taking appropriate measures to ensure that business owners like you can afford to stay in this beautiful and vibrant country.