(MENAFN– The Rio Times) The G20 Summit in Rio de Janeiro, happening in mid-November, is expected to boost the local economy and job market. Hotel bookings are rising, and new jobs are being created as a result.
The Visit Rio convention Bureau reports 41 events next month, potentially adding R$432.5 million ($77.2 million) to the economy, with R$32.6 million ($5.8 million) from 13 G20-related events.
The main summit will be at the Museum of Modern Art on November 18-19, with other events at Olympic Boulevard and Pier Mauá.
Carlos Werneck from the Visit Rio Convention Bureau states, “Every visitor positively impacts the local economy,” mentioning benefits for taxis, hotels, and restaurants.
Hotel occupancy is increasing, currently at 72% in the city and 86% in the South Zone, where it could hit 95% during the summit. Hotels are hiring temporary staff, with some like the Hilton Copacabana adding 30 positions.
Other sectors are benefiting too—Grupo Cataratas’ Primeiro Passo job fair will offer 5,000 jobs. The restaurant industry anticipates a 20-25% revenue boost in tourist areas during the summit, according to Pedro Hermeto of Abrasel-RJ.
Lucas Padilha of the Rio G20 Committee notes the summit enhances Rio’s global status. The event industry in Rio has already grown in 2024, with a 28.17% increase in events and a 71.37% rise in attendance, generating over R$6.42 billion ($1.15 billion) in revenue.
As Rio prepares for the summit, significant economic benefits are anticipated, further establishing its position as an important international destination.
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