To describe Brazil today, we would say that Brazil is the largest country in South America and is home to an ever-expanding expat population, despite some of the unique challenges posed for bringing talent into the country. With a resource-rich economy and booming mining, agricultural and manufacturing sectors, there is an extensive range of job opportunities for expats moving to Brazil.
However, according to Romero Rodrigues, the future is getting even brighter. He focuses on the PagSeguro IPO which raises 7.4 billion Reais (Brazilian currency), the largest ever made by a Brazilian company. He provides a history of capital investment in tech startups in Brazil, bringing us up to his prediction that things are about to take off and maybe even explode. "A spark is enough to make combustion. And that optimism has, click to click, application to application, become tangible in a solid, pulsating and contagious market."
He goes on to say that if you’re an entrepreneur or investor in Brazil, 2018 could not have started with better news. All this liquidity will return to the ecosystem and it is destined to startups in their early stages, creating a virtuous circle that will attract more and more capital.
Most people agree that talent mobility volumes (relocations and assignments) to Brazil would have picked up more quickly had Brazil not done so poorly in the World Bank's Ease of Doing Business Survey for 2017, which ranked them at 125th out of 190 economies. With Brazil, global mobility teams face challenges that include compliance, particularly with immigration regulations, and cost. Assignees also face various unique challenges, not the least of which are finding suitable expat housing, such as a serviced apartment or a rented property. This location requires support for both the global mobility team and the assignee and family if the goal is an efficient and effective transition.
If you are talent in the technology industry, our advice is start learning Portuguese!
If you’re an entrepreneur or investor in Brazil, 2018 could not have started with better news. All this liquidity will return to the ecosystem and it is destined to startups in their early stages, creating a virtuous circle that will attract more and more capital. For 99, its founders, employees and investors: “Congratulations!” And on behalf of all of us who participate in the Brazilian entrepreneurial ecosystem, cheers to the year ahead. It’s already looking bright.