The Future of Construction in Brazil to 2015: The 2014 FIFA World Cup and 2016 Olympic Games to be Key Growth Drivers
Furthermore the Brazilian federal government allocated an investment for infrastructure development under the Programade AceleraÃ§Ã£odo Crescimento (PAC), to be used during 2007â€“2010 to aid the economic growth and counter the negative effects of the global financial crisis.
Significant growth was registered in the infrastructure construction market during the review period, as a result of the investments made under PAC 1. A direct result from PAC 1 included 198 infrastructure planned projects in the transportation, energy, sanitation, housing and water resources sectors.
It is expected that the infrastructure construction market will perform well in comparison to other markets largely due to the fact that Brazil will be hosting two of the worldâ€™s largest sporting events, The FIFA World Cup in 2014 and The 2016 Olympic Games. To help the country prepare for these events, a further PAC 2 investment has been announced by President Lula da Silva for infrastructure development during 2011â€“2014.
The countryâ€™s industrial construction market registered a strong CAGR of 13.43% supported by investment in the countryâ€™s chemical, pharmaceutical plants and manufacturing plants categories. Throughout the forecast period ICD Researchâ€™s analysts expect the implementation of planned projects in the nuclear and hydro power to support the markets growth.
Due to the growth in the leisure and hospitality and retail categories, Brazilâ€™s commercial construction market grew at a CAGR of 17.17% during the review period. The strong growth registered in the retail and leisure and hospitality sectors has been assisted by the countryâ€™s strong economic growth, increasing tourism, growing population and increasing Foreign Direct Investment (FDI). It is expected that there will be a registered growth for this category over the forecast period.
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