A nation at a glance: Brazil’s rise to the top
MBA News Barbara Barkhausen / 10-22-2012
Goldman Sachs once created the name BRIC countries – meaning Brazil, Russia, India and China. The name has stuck despite that the countries don’t have a lot in common apart from being the fastest growing and largest emerging markets economies. The global focus has mainly been on the IC part of the abbreviation – India and China, but Brazil has slowly and steadily “climbed the ladder” as well.
In the past ten years, Brazil’s economy overtook Mexico’s as the largest economy in Latin America. Brazil’s biggest city São Paulo is already the financial hub of the region and the 10th richest city in the world. International sports events like the 2014 FIFA World Cup and 2016 Olympics in Brazil not only shift the country into the spot light but also fuel the economy.
A recent annual tech and startup conference organized by the technology website TechCrunch in the U.S. discussed the emergence of Latin America and showcased it as a breeding ground for visionary start-ups. The event attracted high-profile entrepreneurs from the region: Jacob Rosenbloom, co-founder of Emprego Ligado, a Sao Paulo-based, 500 Start-up-backed company and Davis Smith, who raised over $22M in capital in less than 2 years after launching Baby.com.br. Both entrepreneurs were graduates from the University of Pennsylvania Wharton School. Wharton MBA students visit Brazil as part of the Wharton Global Immersion Programme.
Another business school that has acknowledged Brazil’s rising importance is Hult International Business School. The school has just added Brazil to its Global Campus Rotation Programme. From spring 2013 onwards MBA students will be able to spend up to 6 weeks studying at Brazilian business school Fundacao Dom Cabral in São Paulo.
Brazil is only one rising star in Latin America. Other Latin American nations offer good potential as well. Mexico’s economy is expected to thrive due to the North American Free-Trade Agreement (NAFTA), which gives Mexican businesses extremely favorable trade agreements with those in North America. According to the latest QS Jobs and Salary Trends Report employer demand for MBAs within Mexico has increased by 100 per cent for example.
Chile is also prospering due to its strong commitment to free trade. Foreign investors have grabbed opportunities within the country participating in its steady economic growth and a home-grown business school, Pontificia Universidad Católica de Chile, has achieved an excellent reputation and is regarded as one of the top business schools in the region.