(MENAFN – The Rio Times) The G20 Summit in Rio de Janeiro this November is set to boost the city’s economy and job market. The event is increasing hotel bookings and creating jobs.
The Visit Rio convention Bureau estimates that 41 events next month could impact the local economy by R$432.5 million ($77.2 million), with R$32.6 million ($5.8 million) from G20-related activities.
The main summit will be held at the Museum of Modern Art on November 18-19, with additional events at the Olympic Boulevard and Pier Mauá.
Carlos Werneck, of the Visit Rio Convention Bureau, states that each visitor contributes significantly to the economy, from taxis to restaurants.
Hotel occupancy is currently at 72%, with the South Zone reaching 86%. President Alfredo Lopes predicts this could rise to 95% during the summit. Hotels are also hiring temporary staff to accommodate the influx of visitors, with Hilton Copacabana adding 30 positions.
The Primeiro Passo job fair will provide 5,000 job opportunities across various sectors. Restaurants in tourist areas expect a 20-25% revenue increase during the summit, according to Abrasel-RJ President Pedro Hermeto.
Lucas Padilha of the Rio G20 Committee notes that the summit is important for positioning Rio as a global decision-making hub. The city’s event industry has seen a significant increase in 2024, with revenues up 12.27% to over R$6.42 billion ($1.15 billion).
As Rio prepares for world leaders, the G20 Summit is expected to enhance the city’s economy and solidify its international status.
`
