Brazil: Is it a good moment to invest in Brazil? How easy is it to do business there? Is Brazil a good destination to visit? Is it a “green” country?
Let’s take a closer look at:
- Brazil’s soft power and country brand strength
- Its appeal to skilled labor, investors, and visitors
- The country’s global contribution to peace and wellbeing
- How well it fares in terms of happiness and sustainability
Brazil’s Soft Power and Country Brand Strength
In the Global Soft Power Index 2023 by Brand Finance, Brazil secures the 31st spot, slightly trailing Ireland (29th) and Portugal (30th). It experienced a drop of three positions from 2022, although its score increased by 2.8%.
In the U.S. News Best Countries 2023 ranking, Brazil secures the 28th position, behind Qatar (26th) and Greece (27th). Notably, it excels in three key areas: adventure (1st), movers (9th), and cultural influence (11th). However, the country dropped one position from 2022, with the lowest scores in open for business and quality of life factors.
The Anholt-Ipsos Nation Brand Index (NBI) calculates its ranking based on averaging the scores of six different factors: exports, governance, tourism, culture, people and immigration, and tourism. According to the NBI 2023 ranking, Brazil secures the 27th position, the same as in 2022.
Appeal to Talent, Investors, Trade, and Travel
As per the UNCTAD World Investment Report 2023, Brazil secures the 5th position for FDI inflows in 2022, trailing behind Singapore (3rd) and Hong Kong (4th). This marks an increase of one position compared to its 2021 ranking. This success can be attributed to flows rising by two thirds, the second-highest value ever recorded. In terms of FDI outflows, Brazil ranks 14th in 2022, an increase of seven positions from its 21st position in 2021, while the levels of FDI increased by USD 5 billion.
The Bloom Consulting biannual Country Brand Ranking Trade Edition 2022-2023 assesses investment-related variables, emphasizing perceptions of a country’s trade-specific brand and evaluating branding performance. Regionally, Brazil placed 2nd behind the United States and above Canada (3rd) and Mexico (4th). Globally, it secured the 6th position, a drop of one position since the previous year.
In addition, the Bloom Consulting Country Brand Ranking Tourism Edition 2022-2023 places Brazil at the 38th global position. Regionally, it now holds the 5th position, experiencing a drop of one position, falling behind Canada (3rd) and Costa Rica (4th).
In the IMD 2023 World Competitiveness Ranking, Brazil secured the 60th position, showing a slight shift from its 59th ranking in 2022 and 57th in 2021. Currently, it sits just behind Colombia (58th) and Botswana (59th) while surpassing South Africa (61st) and Mongolia (62nd).
In terms of specific characteristics, Brazil’s economic performance increased by seven positions to the 41st spot in 2023. It holds the 62nd position for government efficiency, experiencing a drop of one position compared to 2022. Lastly, it drops four positions to the 61st position for business efficiency and holds the 55th spot for infrastructure, an increase of two positions since 2022.
The World Economic Forum Global Competitiveness Index 2019 edition placed Brazil at the 71st position among 141 countries. However, it’s important to note that an updated version of this report hasn’t been released in the past 5 years, and rankings may have shifted since then.
The Expat Insider 2023 ranks Brazil in 15th position out of 53 countries, below Indonesia (13th) and Vietnam (14th). It ranks highest in the Local Friendliness and Ease of Settling in metrics, where it secured the 2nd position in both.
Brazil, classified as an upper-middle-income country within the Latin American and Caribbean regional group, currently holds the 69th position in the Global Talent Competitiveness Index 2023. The country ranks highest in the Grow pillar (60th) and struggles most with the VT Skills pillar (74th).
Peace and Happiness
The Global Peace Index 2023 ranks Brazil 132nd, remaining consistent from last year’s index. Brazil sits behind Haiti (129th), South Africa (130th), and the United States of America (131st). Brazil falls under the low sector of the ‘State of Peace’ spectrum as defined by the Institute for Economics & Peace. It positioned 9th out of 11 countries regionally amongst the fellow South American countries, led by Uruguay and Argentina.
The Institute for Economics & Peace similarly ranks Brazil within the medium impact (yellow) zone in terms of ‘Impact of Terrorism’ in the 2022 Global Terrorism Index. It ranks 85th, sitting in between Romania (84th) and Lithuania (86th).
Meanwhile, the World Happiness Report 2023, which displays the Ranking of Happiness based on a three-year average (2020–2022) ranks Brazil 49th.
Environmental Sustainability
The 2022 edition of the Environmental Performance Index (EPI) ranks Brazil 81st, tying with Afghanistan and Jordan. The EPI analyzes the performance of 180 countries, scoring and ranking these countries on their environmental performance using the most recent year of data available as well as providing calculable changes in scores over the previous decade. Brazil has experienced a change in score of positive 5.40.
Brazil’s Contribution to Global Wellbeing
In the Caf World Giving Index 2023, Brazil secured the 89th position, a drastic drop of 71 positions compared to last year’s ranking. Brazil performs best in the subfactor of helping a stranger, where 64% of its adult population helped a stranger this past year.
In the Good Country Index, Brazil currently holds the 62nd position overall, with notable subfactors as follows: Science & Technology (86th), Culture (119th), International Peace & Security (112th), World Order (30th), Planet & Climate (41st), Prosperity & Equality (69th), and Health & Wellbeing (70th). It’s worth mentioning that in 2022, Brazil was ranked 55th, and in 2021, it held the 72nd position. While the country has experienced a seven-point drop since the 2022 ranking, there has been a significant increase in the World Order factor.
According to the Economist Intelligence Unit (EIU) Democracy Index 2023, Brazil ranked in the light blue zone (6-7 range) with a 6.78 out of 10. This is higher than Colombia, which scored 6.72, and Indonesia, which scored 6.71, but lower than Argentina and India, which scored 6.85 and 7.04, respectively.
The 2022 Corruption Perception Index ranks Brazil 94th with a score of 38/100, tying with Argentina, Ethiopia, Tanzania, and Morocco. Brazil’s score has not changed since 2020.
The Sustainable Development Report 2023 ranks Brazil in 50th position. It highlights that Brazil experiences some significant challenges that are still to be overcome. However, the no poverty factor is on the right track, and affordable and clean energy has reached SDG achievement and continues to be on track.
Last updated in October 2023. Explore more country profiles here.
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Disclaimer: The information in this article is intended to provide a general overview of Brazil’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided “as is” without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
