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VAT in Brazil is a topic that requires full attention. Unlike many countries, the Brazilian tax burden is complex and requires preparation to deal with it. Therefore, in this article […]
FESTIVALS AND EVENTS INCREASE IN THE POST-PANDEMIC, GIVING MORE IDEAS TO ESTABLISH LEGAL RESIDENCE IN BRAZIL
The Brazilian segment of events has always been very attractive for Brazilian investors and foreigners who plan on establishing legal residence in Brazil. Music festivals, for example, create several jobs […]
FESTIVALS AND EVENTS INCREASE IN THE POST-PANDEMIC, GIVING MORE IDEAS TO ESTABLISH LEGAL RESIDENCE IN BRAZILPosted 18/07/2023
The Brazilian segment of events has always been very attractive for Brazilian investors and foreigners who plan on establishing legal residence in Brazil. Music festivals, for example, create several jobs and generate millions in profits, like major events in the areas of technology, construction, agribusiness, and others.
However, the events segment has recently been heavily impacted during the Covid-19 pandemic. From 2020 to 2021, more than 230 billion BRL were lost, in addition to 350,000 festivals and cultural events cancelled.
The estimates for the sector, however, are more promising in 2023. The 12th edition of the Global Meetings and Events Forecast, a survey conducted by Amex – American Express Global Business Travel, highlights the boom of new business in events and festivals.
Keep reading Europartner’s new article and find out how the events market will grow back again.
What does the “12th edition of the Global Meetings and Events Forecast” survey show?
Amex – American Express Global Business Travel interviewed 580 professionals, in 23 countries. As a result, the entity collected data which allowed the construction of a comprehensive vision of the events area’s expectations.
According to the survey, the respondents were optimistic about the future. About two-thirds of event professionals expect the number of in-person events to return to a normal level within one to two years.
The study, in fact, coincides with the national data that the Brazilian Association of Event Promoters (Abrape) recently published. The association expects over 4 thousand fairs and congresses to be hold throughout Brazil this year.
Music events expected for 2023.
A music festival confirmed the exciting scenario for the events sector: the “Caraguá Tá Show”, which took place in January in Caraguatatuba, a city on the north coast of the state of São Paulo.
More than 26 concerts were held with an audience of almost 200 thousand people. In addition, nationally renowned artists participated, such as:
- Clayton & Romário
- Edson & Hudson
- Cesar Menotti & Fabiano
- Raça Negra
- João Bosco & Vinícius
- Pedro Sampaio, besides Fernando & Sorocaba, Jota Quest, Matheus & Kauan, among other.
Note that in the equivalent period in 2022 musical performances were suspended due to Covid-19 variant contamination.
Events and festivals are good investment options for 2023.
Brazil is a wide area of possibilities for entrepreneurs to invest in event companies and startups. Both the musical field and fashion, digital marketing, real estate, agribusiness, and technology sectors offer opportunities for setting up or expanding businesses.
The corporate events market has shown great economic relevance in recent years. The allocation of marketing budget to B2B companies reaches 14%, being directed to expos, conferences and events in general. Digital Marketing comes in second place, with 10% of allocated funds.
Legal residence in Brazil with Europartner.
Europartner has a team of qualified specialists to provide your legal residence in Brazil, besides other essential documents and registrations to set up an event company in Brazil. We provide accounting services, visas, and legal representation of foreign companies in Brazil.
Author's post: Europartner Accounting