MENAFN – The G20 Summit in Rio de Janeiro this November is set to boost the city’s economy and job market. Hotel occupancy is rising, and new jobs are being created as the summit approaches.
According to the Visit Rio Convention Bureau, 41 events in November could generate R$432.5 million (about $77.2 million) for the local economy. Of this, R$32.6 million ($5.8 million) comes from G20 events, contributing R$1.6 million in tax revenue.
The main summit will be at the Museum of Modern Art on November 18-19, with other events at the Olympic Boulevard and Pier Mauá.
Carlos Werneck from Visit Rio highlights the economic impact of visitors on transportation, hotels, and restaurants. Hotel occupancy is averaging 72% citywide and 86% in the South Zone, with projections of 95% during the summit. Hotels are hiring temporary staff to meet demand, with Hilton Copacabana adding 30 positions.
Other sectors benefit too, with the Primeiro Passo job fair offering 5,000 positions. Restaurants anticipate a 20-25% revenue increase in tourist areas during the summit.
Lucas Padilha from the Rio G20 Committee points out the summit’s importance for Rio’s global standing. The event industry is already seeing a growth of 28.17% in events and 71.37% in attendance in 2024, totaling over R$6.42 billion ($1.15 billion).
As Rio prepares to welcome world leaders, the G20 Summit promises significant economic boosts and reinforces its status as a major international destination.
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