Brazil is the ninth biggest economy in the world and the fourth largest country with a population of more than 207 million people and it has a large territory and favorable weather. Beside that Brazil’s GDP growth is the 9th highest GDP over the world with 2.3% increase in 2019 as it worth $2.09 trillion – all of which makes Brazil a land of business opportunities and economic development.
Brazil’s economy is very diversified from agribusiness that is worth $175 billion to an automotive business industry that is responsible for 22% of the country’s GDP and renewable energy business industry is also booming as the country has the most concentration of natural resources. All of this with the increased access to education, lead to considering Brazil to become a hub of small and large scale businesses alike.
But what are the major business industries in Brazil that are booming at an unprecedented pace? People in Brazil are making investments and generating income every day in the following industries
Telecom and Technology Industry
According to Brazil’s Telecommunication National Agency, there are 116 cell phones for every 100 people in Brazil. The telecom market is expected to expand 20% by 2022 reaching $45.7 billion in annual revenues. The forecast comes from consultancy Frost & Sullivan in its report titled “Brazilian Total Telecommunications Services Market Outlook”. The same report also cites opportunities in non-traditional telecom services like the internet of things, big data, business process management and smart applications.
The top companies in this industry are Vivo, TIM and Claro.
Brazil is the 4th largest internet market globally with more than 140 million internet users of the total population of more than 207 million. According to Euro-monitor Internacional, Brazil reflects 42% of all B2B e-commerce in Latin America. Brazil’s e-commerce market continues to show a positive growth trend despite an adverse economic scenario for years. 2017 ended with a growth of 8% with 55 million e-commerce customers spending $14.5 billion on the web.
Top e-commerce platforms in Brazil are Amazon Brazil, Magazine Luiza, Casas Bahia and Submarino.
Private schools in Brazil are about 20% of the primary and secondary education market. Due to dissatisfaction with the public schooling, there is an increase in the number of families who started to go for private schooling and this is according to a report by L.E.K. Consulting, named “Brazil’s burgeoning private K-12 market”. This demand will spike the prices that the high-end schools can charge by providing better educational services.
The Brazilian government has placed no restrictions on tuition fees. As a result, the educational industry is booming and so is educational consultancy. Teachers and consultants are participating in the growing demand of the industry.
Apps development is a business that has a large portion of the Brazilian economy. The competition between mobile apps companies are on fire and this is in different sectors like travel, health, home and remedies. Smartphone manufacturers in Brazil get tax relief from the government of 9.25% which is why these companies want to develop and even fund the app development community to help this sector to grow. Private companies have held mobile app development competitions and app incubator programs in Brazil for this reason.
Entering the Business Industries Successfully
Businesses in Brazil are booming in a number of sectors and fields. It is only a matter of time when companies and individuals around the world would want to be a part of these successful business sectors and show interest. However, there may be a language barrier that they will need to cross in order to effectively enter the business industries in Brazil. In order to bridge the language gap and build effective and successful relationships, international companies and individuals may require translation services. LatinoBridge offers relevant services that will help you to enter the above mentioned booming markets and industries with confidence. Here are the services offered by LatinoBridge
Business Document Translation Services
No matter which industry you pick, you will require high-quality business document translation services. LatinoBridge can accurately translate your business documents containing corporation laws, employment agreements, business plans, meeting minutes, memorandum of understanding and others. Communicating with clarity of other languages can help your business success especially when you’re working internationally.
If you want to introduce your company in Brazil, you will need to translate your website into Portuguese and adapt different elements like date/time, currency, images and content to the Brazilian culture. LatinoBridge offers high-quality web localization services.
Telecommunication Translation Services
Telecommunication is all about communication and you can lose out on a significant amount of business if you don’t communicate in the target language effectively. LatinoBridge offers telecommunication translation services and can translate content that can help you build a connection with your customers.
E-commerce Translation Services
E-commerce is a booming industry in Brazil as mentioned before. If you want to increase your sales and reach a wider set of audience in Brazil, you will have to translate your e-commerce website into Portuguese. LatinoBridge offers excellent e-commerce translation services to help you succeed in your business expansion plan and enter the Brazilian market with an attractive looking website that resonates with the local audience.
Education Translation Services
LatinoBridge offers education translation services for elementary & secondary education, higher education and e-learning sectors. We also translate certificates, diplomas, and transcripts and localize your educational products, software and applications.
So why LatinoBridge is your first choice as a translation and localization partner in Brazil?
We will be able to help you do business in Latin America and communicate with the local audience. Our translators are well-educated and experienced in Spanish and Brazilian Portuguese.
With our solid experience, we are one of the most trusted translation companies in Latin America which offers translation, interpretation, website localization, software localization and desktop publishing services.
Contact us today for a customized quote for your project.