SAHIC: What are the main attributes of the city of Rio de Janeiro that make it attractive for investment in tourism and hotels?

Sidney Levy: Rio de Janeiro is one of the most iconic cities in the world. Its natural attributes alone are enough to attract investment in tourism and hotels, but our Marvelous City also has many incentives to become the largest hub in the segment.

Regarding natural attributes, Rio is known worldwide for its beaches, stunning landscapes, for being home to the Tijuca National Park - one of the largest urban parks in the world - and for having one of the seven wonders of the world in its territory.

The city has also become one of the main stages for large-scale international events. In addition to holding one of the largest Carnival and New Year's parties in the world, it has also hosted the World Cup, Olympics, Paralympics, Rio Open, ROG-e (formerly Rio Oil & Gas), G20, Rio Innovation Week, Web Summit Rio, among others.

And as if being recognized for its hospitality, natural beauty and innovation and technology ecosystem were not enough, investments to provide even more convenience, infrastructure, mobility and security to all who live, invest and visit the city are ongoing.

Rio offers international airports with direct flights to several global destinations, convention centers and spaces for corporate events and conferences, different means of public transportation that connect the entire city and tax benefits for investors in the hotel sector to set up in strategic points of the city.

SAHIC: The city of Rio de Janeiro is the main Brazilian destination abroad. What are the tourism growth projections for 2025 and beyond? 

Sidney Levy: The tourism growth projections for 2025 are the best possible for the city of Rio de Janeiro and the trend is for the sector to grow even more in the coming years. In 2024, Rio received 1.5 million foreign tourists, generating R$6.9 billion in the economy, resulting in growth of almost 25% compared to 2023.

For 2025, the expectation is to receive 15% more foreign tourists, resulting in a movement of R$8 billion in the Rio economy, according to data from the study carried out by the City of Rio. Our goal is to consolidate the city as one of the main international tourist destinations and, to this end, we are investing in the main sectors responsible for attracting and receiving these visitors.

With this forecast, one of the actions carried out in the city to attract new businesses in the hotel sector is the 40% discount on IPTU (Property Tax) for businesses that are up to date with the tax. Established by Law No. 3895/2005, the incentive was extended until 2028.

SAHIC: The city of Rio de Janeiro is a candidate to host the Pan American Games. How does this contribute to tourism and the development of the destination?

Sidney Levy: We are very excited about Rio de Janeiro's candidacy to host the Pan American Games! We know how much large-scale events increase the flow of tourists, both domestic and international, and how this results in improvements in various sectors of the city.

Having Rio as the stage for a sporting event of this size means promoting the city as a tourist destination, showing the potential, we have to host large events, attracting more investment in infrastructure, urban mobility, security and other important areas, in addition to increasing efforts to train an even more qualified workforce. All of this results in jobs, opportunities and an economic movement that impacts everyone who works, invests and lives here. 

Furthermore, major sporting events, such as the Pan American Games, leave a great legacy in the city, which transforms the lives of Rio residents through access to leisure, culture, education, mobility and sport.