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The World Cup starts this Sunday, November 20, and shows promise for the economy of Minas Gerais (MG), which will be moved by R$ 141 million, occupying 9,5% of the entire national share of retail and wholesale, second only to São Paulo (SP), which occupies 34,5%.
According to an assessment carried out by KPMG, expectations are that the World cup move a value around R$ 141 million in the economy de Minas Gerais (MG) due to the increase in sales of spirits, beers, snacks, meats and even clothes with the Brazilian flag. In addition to thousands of job vacancies.
The state of Minas Gerais will be in second place with the largest national share, second only to São Paulo (SP), which should occupy a slice of 34,5%. It is estimated that the economy throughout Brazil is moved by more than R$ 1,4 billion!
Due to current inflation, the trend suggests that consumption is higher for chicken and pork compared to red meat. Despite this, the year 2022 has been proving to be very favorable for the retail sector due to the World Cup and sports, even with a scenario of high interest rates (Selic is in two digits) and the unfavorable exchange rate – encouraging food companies to export to receive in dollars.
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Another aspect that caused entrepreneurs to fear stagnation in the sector is precisely the accumulated inflation of the last twelve months and scarce credit on the part of banking institutions, says Fernando Gambôa, lead partner of Consumer and Retail at KPMG in Brazil and South America.
Increase of the economy of Minas Gerais (MG) by 12,9% in relation to the World Cup in 2018
The National Confederation of Trade in Goods, Services and Tourism (CNC) estimates an increase in the economy of Minas Gerais of 12,9% compared to 2018, when the last edition of the World Cup took place.
Ray Souza, Markets partner at KPMG in Brazil and regional leader in Minas Gerais (MG), argues for a growing recovery of the Brazilian economy after the Covid-19 pandemic, with greater confidence of restaurants and bars in resuming their activities . The population expectation of growth on a state scale occurs spontaneously with the arrival of the games.
Other polls show a good performance for November, such as the “Retail Trade Opinion — 2022 World Cup”, by Fecomércio MG. The data indicated that at least 43% of all companies interviewed in Minas Gerais (MG) about the impacts of the World Cup on trade expect positive returns in revenue.
47% of respondents say they are also planning for the arrival of Black Friday, which also occurs this month. Private institutions will invest massively in marketing to increase the number of sales and stand out among so many competitors in the market.
About KPMG
A KPMG is part of a global network of companies present in 154 countries with more than 200 professionals, around 4 of them in Brazil alone, distributed in 22 cities, including the Federal District (DF). The company has existed for more than 100 years, giving confidence to the segment.
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