Economics
Whoppers Sizzle in Steak Land as Burger King Rises in Brazil
- Dominant McDonald’s sees rival add site every three-four days
- Recession-wracked populace skipping expensive steak houses
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Brazil, known for its unique steak houses and premium beef exports, is seeing a growing appetite for a different type of meal, Burger King’s 680-calorie whopper.
Burger King is opening a new site in Brazil every three to four days, said Iuri Miranda, chief executive officer of BK Brasil SA, the world’s fastest-growing restaurant operator by revenue. With 736 sites since 2011, BK Brasil is challenging McDonald’s Corp. for Brazil’s fast-food crown. McDonald’s, which opened its first restaurant in Rio de Janeiro in 1979, has 939 in place.