Would you like to know the best Brazilian cities for investment? From now on, you’ll get to know the most promising cities to invest in 2024.
Based on the renowned Entrepreneurial Cities Index Ranking (ICE) 2023, drawn up by the National School of Public Administration (ENAP), this guide will take you on a tour of the cities driving the country’s economy.
This ranking is an assessment tool widely used by public managers and entrepreneurs interested in impacting the local economy and its aim is to encourage entrepreneurial activity and provide qualified data for analysis.
The indices assessed include: regulatory environment, infrastructure, market, access to capital, innovation, human capital and entrepreneurial culture.
It is important to mention that each survey takes into account its specific indicators. In this case, we are presenting the best-placed cities according to the indices presented.
If your company wants to learn more about Brazilian culture and expand its business, it’s worth both reading this article and contacting companies that can facilitate and expand business with specialists in the Brazilian market and get to know the best cities to invest in.
Entrepreneurial Cities Index (ECI) Ranking 2023
- São Paulo – São Paulo
- Florianópolis – Santa Catarina
- Joinville – Santa Catarina
- Brasília – Distrito Federal
- Niterói – Rio de Janeiro
- Boa Vista – Roraima
- Curitiba – Paraná
- Rio de Janeiro – Rio de Janeiro
- Macapá – Amapá
- Goiânia – Goiás
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São Paulo
The city of São Paulo is the largest metropolis in Latin America and stands out as the main city for investment and entrepreneurship in Brazil in 2024 so let’s take a look at the main reasons for this conclusion:
Favorable business environment
The city stands as the largest financial center hosting the headquarters of the country’s main companies and financial institutions, as well as numerous startups and technology companies, providing a positive environment for the creation and expansion of businesses.
It also offers a broad and diverse market, with opportunities in various sectors such as industry, commerce, services, information technology and the creative economy. The city also concentrates much of the country’s skilled labor force, as well as renowned universities.
In addition, São Paulo’s infrastructure is robust, with public transport, international airports, convention centers and technology parks.
Therefore, São Paulo is definitely an innovation hub with a vibrant and favorable environment for business development. As well as having the highest Gross Domestic Product (GDP) in the country, which measures the total value of all goods and services produced over a specific time period and is a key indicator of economic health, there is a growth trend for various sectors.
Quality of life
São Paulo is a cosmopolitan and multicultural city with a rich gastronomic and leisure offer.
Commonly known as a place where “there’s nothing you can’t do”; there are countless options for Brazilians and foreigners to get to know each other and expand business and networking.
Florianópolis
Florianópolis, the capital of Santa Catarina, combines an innovative environment, well-developed infrastructure, skilled labor and government incentives making the city a gateway to business success. The capital has a great collaborative culture and the synergy between the public, private and academic sectors facilitates the creation of new businesses and the development of innovative solutions.
In addition to offering technological solutions to optimize urban management, Florianópolis boasts a comprehensive infrastructure, including modern airports and bustling seaports.
The region’s stunning natural beauty adds a unique allure, making it an ideal place for both business and leisure.
Joinville
Joinville, which is also in Santa Catarina, has a strong industrial tradition, particularly in the metalworking, textile, food and wood sectors. It has been excelling in sectors such as technology, innovation, services and agribusiness, driving the growth and diversification of the local economy.
The city is home to the headquarters of large multinational companies, which generate income and job opportunities. It is located at an important road and railway junction, as well as having access to the sea, which facilitates the flow of production and foreign trade.
Additionally, it offers an excellent quality of life, with green areas, complete infrastructure, public safety and a low crime rate.
Brasília
The capital of Brazil, this metropolis is designed as a modern and functional urban center, featuring green areas, leisure spaces, and complete infrastructure.
The organization of Brasília is a little different from other cities in Brazil. It was designed in the shape of an airplane in the 1960s. Today the surrounding expansion is immense – the growth in population and opportunities is very promising for business.
As the seat of the three branches of government, Brasília hosts the National Congress, the Planalto Palace, and the Federal Supreme Court. The Planalto Palace, located in the Praça dos Três Poderes, serves as the official workplace of the President of Brazil. This concentration of political and administrative institutions makes Brasília the central hub for decisions that impact the entire country.
The city has a large population with high purchasing power. In addition to being peaceful, the federal capital has better public safety rates than the national average, providing a safe environment in which to live and work.
Brasília is definitely a city well worth visiting.
Niterói
Niterói is known in Brazil as the city of the sun. Located in the state of Rio de Janeiro and is an important regional center for services and commerce, hosting companies from various sectors.
The city, with its modern infrastructure and strategic location, handles a large volume of cargo and facilitates the flow of regional and national production to the international market.
It is known for its beaches and breathtaking views, as well as its rich historical and cultural heritage, with several museums, monuments and archaeological sites.
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Boa Vista
Boa Vista, the capital of Roraima, located in the far north of Brazil, plays an important role in the country’s economy, especially in the regional context. Its importance is reflected in several aspects:
Gateway to the Amazon: Boa Vista serves as a gateway to the vastness of the Amazon, facilitating access to natural resources, biodiversity and areas of great economic potential. This drives the development of activities such as mining, logging, agribusiness and ecological tourism, generating jobs and income for the region.
Regional integration: The city is an important logistics and production outlet center, connecting Brazil to Venezuela, Guyana and Suriname. This strengthens trade relations with neighboring countries, boosting the exchange of products and services and opening up new opportunities for the Brazilian market.
Curitiba
Curitiba is one of the cities in Brazil’s southern region. Its economy is marked by the strong presence of the tertiary sector, which includes activities such as commerce, services and tourism.
The city also has a diversified industrial park, particularly in the food, beverage, metallurgy, mechanics and information technology sectors and it stands out as an important production and export center.
It has received several international awards for its initiatives in areas such as urban planning, sustainability, public transport and quality of life.
Rio de Janeiro
Rio de Janeiro, also known as the “Marvelous City”, boasts several significant contributions to the Brazilian economy, standing out as an important hub for regional and national development. Among the most prominent areas are:
Tourism: Rio is one of the most popular tourist destinations in Brazil and the world, recognized for its exuberant natural beauty, such as the world-famous beaches of Copacabana, Ipanema and Leblon, as well as the green hills and the imposing statue of Christ the Redeemer.
Oil and Gas Sector: The Campos Basin, located off the coast of Rio de Janeiro, is one of the richest in oil and natural gas reserves in Brazil.
The city is home to important oil refineries, such as the Reduc Refinery, which processes the crude oil extracted from the Campos Basin and distributes fuel throughout the country.
Culture and entertainment: Rio de Janeiro is known for its rich culture and vibrant nightlife, with many museums, theaters, cinemas, concert halls and events throughout the year. The city’s cultural importance attracts tourists from Brazil and abroad, as well as investment in projects in the area. The city has already hosted major international events, such as the 2014 FIFA World Cup and the 2016 Summer Olympics.
Macapá
Macapá, the capital of the state of Amapá, located at the mouth of the Amazon River, has some key points that have brought it to this ranking:
Mining: Amapá has great mineral potential, particularly in the exploitation of manganese, gold and kaolin. The city serves as a logistics base for the exploitation and disposal of these minerals, generating income and contributing to the state’s GDP.
Forests: The rich Amazon rainforest around Macapá offers timber resources and other non-timber forest products, such as Brazil nuts, açaí and palm hearts.
Fishing: The region has great potential for fishing, due to the abundance of fish in the region’s rivers and seas. Macapá serves as a fish processing and distribution center.
Natural beauty: Macapá boasts unique natural beauty, such as the meeting of the waters of the Amazon and Jari rivers, the São José de Macapá Fort and the Municipal Market. The city is also the starting point for various excursions through the Amazon, such as boat trips on the rivers, visits to indigenous communities and forest trails.
Goiânia
Goiânia, the last city in this ranking, is the capital of the state of Goiás, located on the Brazilian Central Plateau.
The Centre-West region, where Goiânia is located, accounts for around 40% of national grain production and 30% of beef production. It is known as the “Barn of Brazil” because it is one of the country’s largest producers of grains such as soy, corn, rice and beans besides agriculture in Goiás makes intensive use of machinery, agricultural implements and irrigation and utilizes a lot of technology.
Goiás has the second-largest cattle herd in Brazil, second only to Mato Grosso. Goiás beef is one of the state’s main export products and is sent to many countries around the world.
In addition, it is located in a strategic position in the center of the country, serving as an important road, rail and air junction. This makes it easier to transport the state’s agricultural and livestock production to other regions of Brazil and abroad.
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