Oct 02 2009
Brazil won the coveted 2016 Olympics game hosting award yesterday, amidst stiff competition from many other developed countries. US and Japan were also vying for hosting the next Olympics game, but were thrown out of the race due to better ratings for Rio De Janeiro.
The awarding is expected to morally and also economically benefit Brazil over the next few years. The Olympics games preparation could well mean billions of dollars spending by Brazil government for local development. That is really good news for domestic demand generation, at a time when Brazil is reeling under economic recession due to failing exports to other countries.
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