Rio Olympics to benefit Brazil real estate owners
Owners of Brazil real estate will benefit from changes to be made to Rio de Janeiro ahead of the 2016 Olympics.
President Luiz Inacio Lula da Silva has pledged to improve the city’s transport system, airport and crime rates ahead of the Games.
The premier will also have to double Rio’s hotel capacity for the event to 50,000 rooms, in addition to boosting the airport’s size.
Carlos Langoni, a former central bank president and finance chief of the organising committee for the World Cup 2014, which Brazil is also hosting, said: "The city’s transportation infrastructure also needs major work but the government is committed and will tackle these issues."
Brazil real estate owners will also benefit from the country’s boosted economy, with the Olympics expected to add one percentage point to the economic growth.
Brazil beat off competition from Japan, the US and Spain to win the right to host the 2016 Olympics, being praised for its "very strong technical bid".
