Although Brazil has been growing quickly as a nation, its economic growth has been stinted by the country’s lack of investment in infrastructure. In preparation for the 2014 World Cup and the 2016 Olympics, Brazil is expected to spend over one trillion dollars from the Brazilian government and as much as $34 billion from private investors. The money will go toward numerous construction projects designed to increase and improve upon Brazil’s roads, railways, stadiums, hotels and airports. More information after the break.
With only three years left to make up for 30 years without investments in infrastructure, Brazil faces extreme challenges in meeting its extensive development goals. It is no surprise that the country’s plans are already running behind schedule, but if it can pull through, Brazil will generate huge profits in economic activity through investment, tourism and consumption. This will put Brazil’s economy one step closer to finally being able to compete with the economies of other leading countries.
Luckily, the people of Brazil are not alone in their effort to build up their country in time for the World Cup and Olympic Games. The United States is offering to help fund Brazil’s renovations. The US hopes that by investing in a large portion of the country’s upcoming infrastructure projects, they will profit from their investments and gain cooperation from Brazil while also limiting China’s increasing influence in world affairs.
In addition, the United States’ major investments in Brazil have set the stage for U.S. companies to move in and take advantage of the new opportunities for construction. Realizing the potential for infrastructure and real estate development that Brazil has to offer, several architecture firms including JDS, HKS, OMA, Richard Meier, Aedas and Broadway Malyan are opening offices in Brazil, despite the bureaucratic nature of the country and the increased amount of time that it takes in Brazil to get a business up and running.
Whether they be financial, temporal or cultural, there are a wide range of obstacles standing in the way of Brazil’s attempts to upgrade its infrastructure and live up to its potential as an emerging world power. Although a large number of Brazil’s construction projects are running behind, the project leaders are optimistic about the progress being made. They believe that the ongoing projects will bring social and economic benefits that will remain long after the World Cup and Olympic Games have left.
Photographs: Flickr: Diego3336, JorgeBRAZIL References: brasil.gov, AmericasSociety
