Strong in services and events, the economy of the city of Rio grew more than the state and the country in the 2nd quarter – Small Businesses Big Business

Strong in services and events, the economy of the city of Rio grew more than the state and the country in the 2nd quarter – Small Businesses Big Business
Strong in services and events, the economy of the city of Rio grew more than the state and the country in the 2nd quarter – Small Businesses Big Business

THE economy from the city of Rio de Janeiro had a growth of 1.6% in the second quarter of this year, above the activity of the state, which had an increase of 0.5% in the period, and the country, which advanced 1.2% in the period. The calculation is from the Municipal Secretariat for Economic Development, Innovation and Simplification (SMDEIS) of the city of Rio.

Strong in services and events, the economy of the city of Rio grew more than those of the state and the country in the 2nd quarter (Photo: Getty Images)

The explanation lies in the strong participation of services in the city’s economy, which has a vocation for tourism and large-scale events such as Rock in Rio, which started yesterday in the state capital. Services, the main sector of the Brazilian economy, were the highlight of the figures released by the IBGE on Thursday.

According to the city hall, the service sector represents 87% of the municipal economy. This was one of the factors for the city to have a greater growth than the state, evaluates the secretary of Economic Development and Simplification of the City Hall, Thiago Dias.

“As 87% of our economy, the strong resumption of services has an immense result in our detachment (in growth) from other entities of the federation, state and national”, he said.

He highlights that, in addition, there are measures to guarantee credit for companies during the pandemic. Services grew with the resumption of face-to-face events. In the case of the city of Rio de Janeiro, for example, Rock in Rio, which takes place this weekend and next, should contribute to the city.

— The expectation is that Rock in Rio will generate around R$ 1.7 billion in the carioca economy with 500,000 people from outside the city. Today it is estimated that it generates approximately 30 thousand direct and indirect jobs. This type of event is an injection of breath into the machine that is now recovering and shows a very solid growth movement – he said.

The state of Rio de Janeiro, on the other hand, continued on the recovery path, mainly due to the industry and the service sector, which benefited from the “good performance” of the oil chain. The increase in activity was 0.5% in the quarter, according to the index calculated by the Central Bank (BC).

“Prospectively, the Rio de Janeiro economy should remain in recovery. Trade and the service sector are still below the pre-pandemic level and should be favored by income support policies”, pointed out the BC.


The article is in Portuguese

Brazil

Tags: Strong services events economy city Rio grew state country #2nd quarter Small Businesses Big Business

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