Rio Readies for Olympics Amid Economic and Political Turmoil
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It’s hard enough to host the Olympics without having to deal with a Zika epidemic, a crushing economic recession, and the impeachment of a president. But that’s the plight of Rio de Janeiro.
Marketers in Brazil are cutting budgets in an economy forecast to contract another 4% this year after a similar drop last year, and car sales plummeted by 22% in February. The country’s congress has started impeachment proceedings against President Dilma Rousseff, and Brazilians hope the furor over who runs Brazil will be resolved long before the Olympic Games kick off Aug. 5.
Another big challenge is getting a nation distracted by multiple crises (and who are mostly soccer fans anyway) to pay attention to Olympic sports — and to the messages of six marketers paying a total of $420 million to sponsor dominant broadcaster TV Globo’s coverage of the games.
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