Sibos shuns emerging Brazil as a destination
By Margaret Cappa
The next three Sibos venues have been announced – none of which includes the world’s fastest emerging economic power, Brazil.
“I do not see any reason for not having Sibos is Brazil,” said Jose Carlos da Silva of Bradesco, one of Brazil’s top four banks.
“Brazil has been preparing itself for two major sporting events, the World Cup and the Olympics.”
Although a formal bid from the Brazilian Financial and Capital Markets Association was made to host Sibos in 2014, it was awarded to Boston for the second time in just a decade. The reason Brazil was overlooked remains unknown.
However, if it were a question of infrastructure, da Silva said the country’s largest cities, Rio de Janeiro and Sao Paulo, would be equipped to host a gathering like Sibos of some 7000-9000 participants. “The infrastructure will be ready for receiving major events,” he said.
Brazil will host the 2014 Fifa World Cup and the 2016 Summer Olympic Games. Some reports project upwards of 500,000 tourists will attend the World Cup. Furthermore, thanks to its 370 year old annual Carnival festival, Brazil has grown accustomed in recent years to hosting hundreds of thousands of tourists each February.
According to an Agence France Presse report, 52 major works will be undertaken in the run-up to 2014. These include $3.3 billion for airport infrastructure and modernisation, as well as hotel accommodation and training and security investments, noted the Australian Trade Commission, who will be assisting Brazil and sharing best practices.
Sibos 2012 will be held in Osaka, Japan, and 2013 in Dubai in the United Arab Emirates.
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