Rio Olympics to help Brazil draw more foreign investment

| Wednesday, January 20, 2016 - 20:30
First Published |
Brazil hopes to attract FI from Rio Olympics

The Games will be held from August 5-21

Rio de Janeiro:  The Brazilian government is hoping the Rio 2016 Olympics will help to attract new investments to the country at a time when it is mired in a deep recession, said Tourism Minister Henrique Eduardo Alves.
Speaking at the International Tourism Fair, Henrique Eduardo Alves explained that the $11 billion being invested by Brazil to host Rio 2016 must leave behind a clear legacy for the city and bring more tourists to the entire country, reports Xinhua.
The Games will be held from August 5-21.
According to Alves, "15 percent of the money invested went towards sports infrastructure", while the rest was invested in structures that "will leave a legacy for the city."
"Brazil has great growth potential in the tourism area and will certainly make it an area to improve upon," he said on Tuesday.
Currently, Brazil sees 70 million domestic tourists and six million foreign tourists a year, which Alves considers to be "low".
To bring in more foreign tourists, the Brazilian government has lifted visa requirements for citizens of the United States, Canada, Australia and Japan for the duration of the Olympic Games, which it hopes will bring in 20 percent more tourists from these countries this year.
Furthermore, the country is carrying out a huge campaign on social media and online across South America.
Alves vowed that one of Brazil's greatest problems, security, would be "exemplary" during the Olympics, with 80,000 security forces guarding the event.
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