Brazil: a growing digital market, according to report

The digital economy is consolidating in Brazil, according to data from the Brazil Digital Report.

Mckinsey, a management consulting company, presented a report on the Brazilian digital economy in this month. The report highlights macroeconomic indicators, Internet trends, investment data and information with insights of entrepreneurship and innovation in Brazil.

The Brazil Digital Report was developed in collaboration with Brazil at Silicon Valley and provided information on the Brazilian market in four aspects: Macroeconomics, Digital Perspective, Entrepreneurial Ecosystem, and Sectoral Studies.
Brazil Digital Report offers insights in Brazilian market.

Some insights in Brazilian market

The study mentions an improvement in the Brazilian economy. The consumer has greater confidence in the industry, at the same time that inflation and interest rates are reducing. Also, the country shows growth in GDP.

As for the digital world, two out of every three Brazilians already have access to the Internet. Besides, it presents one of the highest rates in the world of connection. An average digital user is connected more than 9 hours per day. Brazil is also a leader in the use of social networks such as Facebook, Instagram Whatsapp or Youtube.

In Brazil, there are more than 12 thousand startups. Of these, 46% are less than two years old. These companies generate more than 30 thousand jobs. Investments in risk capital in Brazil totaled $ 1,300 million in 2018 (against 859 million dollars in 2017) and represented 66% of all investments in Latin America.

Banking services in Brazil grow faster than GDP. Banking clients use more mobile and digital banking. A half of transactions are digital. There are even entirely digital banks, like Nubank.

StartupBase data

One of the primary sources of the study was StartupBase, a database that today has a dashboard with updated data on the age of startups, a ranking of cities, market and target audience, among others.

Thanks to its partnership with Darwin Startups and CrunchBase, this database has become one of the most reliable and complete in the country.

Brazil Digital Report’s presentation