How Will Brazil’s Economy Benefit From World Cup?

Your next video will start in

Recommended Videos

  • Info

  • Comments


June 12 (Bloomberg) -- Manuel Garcia-Duran, Chief Executive Officer at Ezentis, talks with Olivia Sterns about the economic benefits Brazil stands to gain from hosting the World Cup and examines the nation’s overall economic condition and the state of economic recovery in Spain. He speaks on Bloomberg Television’s “The Pulse.”

Economic benefit for the country?

I think it is a good thing for the country.

It is good -- i believe it is a positive thing for brazil and for the companies.

What is the business environment like down there?

Brazil still seems to have this byzantine bureaucracy.

We need to -- they are doing better.

Recently, they were in a different situation.

This is coincidental with the emerging middle class.

It is important for the country.

Brazil recently was totally different.

My belief it is this kind of thing that is energizing the country and changing slowly the consistency, the way to do things in brazil.

Carlos was just on and he said their forecast is for the economy to grow 1.5% this year.

Are you not concerned that things are slowing down?

If we came from -- the other thing that is very important is to consider the midterm, not only the short-term.

One of the problems we have now is with a short-term benefits.

We need to look over the next 10 years.

It is a consequence of the great advance in the last years.

It is positive for the future of a great country.

73% of the credit cards are in brazil.

38% of the internet is an brazil.

It will be the future.

You are saying there is an emerging middle class and that is good news, but this is something we have heard before.

The story line that brazil is on the brink of booming is something people have been saying for 15 years.

Why is it still such a poor country.

Brazil is the constant within a confident -- a confident ntinent within a continent.

It is important to put it on the table.

When he to short-term analysis -- the evolution is going to be positive.

It is not so far away.

It is no longer than 10 years.

10 years is nothing for transforming a continent.

Brazil is much more different than 10 years ago.

How has the cup been creating opportunities for you specifically?

One year ago, we were off brazil.

We work in the northeast and southeast.

Water, electricity, and telecommunications.

The middle class is going to use it for the next 100 years.

We are strong believers that we can make it.

We are positive that is the reason we are growing and investing mark in brazil -- investing more in brazil.

You call it the land of opportunities.

Is there a sense that latin america is what has been driving the recovery in spain?

I think so.

There is a natural link between spain and latin america.

Latin america is investing in spain now, too.

Mexico is investing heavily in spain.

There are two ways to enlarge in our relationship.

It is of great friendship.

It is not just one white anymore.

How -- it is not just one way anymore.

How is the business environment?

Spain is going to recover quicker.

Spain was the end of the world one year ago.

I believe it is that spain is a strong country with a strong government with a strong idea to grow and we have overcome the most important problems we had.

The energy of the spanish people , the preparation, we are going to do and we will do better.

Now we are going out of the crisis.

How about the spanish consumer?

How strong is the spanish consumer right now?

The consumer now is not so good.

You need to understand that there is a psychological factor, too.

It weighs very much in the mind.

It is recovering for the first time.

The trend of the people not working has changed.

For the first time in this quarter, the jobs are growing.

I believe something has changed the mentality of the spanish people.

They are not so pessimistic.

The faith to overcome the crisis.

I am totally an optimist.

I think spain is going to recover consistently in the next three years.

Who is going to win the cup?

I have a challenge to be -- i am going to be very clear.



dark horse perhaps.

You'll have to come back soon.

Union workers at rio de janeiro's airport started a strike admin night local time -- at midnight local time over better pay.

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change