Category Archives: Investment Advice

Brazil Needs More Olympic Ticket Sales According To Brazilian Investment Expert Igor Cornelsen

Brazil had high hopes that the Olympic Games would help pull the country out of the nasty recession that is crushing the middle class and making investors run to countries like India and Mexico for relief. Brazil is in bad shape, and the country needs an injection of Olympic money to help get the economy moving again. But the 2015 outbreak of the Zika virus has put a roadblock up, and people around the world are scared to cross it and come to Brazil. Only half of tickets that are available for the Games are sold, according to investment banker, Igor Cornelsen. Cornelsen is the former bank executive that managed some of the largest banks in Brazil during the country’s emerging market boom.

Cornelsen retired from the banking industry and moved to Florida to invest full-time. Igor started the Bainbridge Investments to help other investors get through the intricate investment world in Brazil and other emerging markets. Cornelsen not only invests in countries like Brazil, China and Russia, he also invests in assets in developed countries like the United States and the UK.

But Cornelsen still has roots in Brazil, and when Brazil is hurting so is Cornelsen. Igor’s investments aren’t hurting, but his pride is hurting because of the political upheaval and the social unrest that is taking over the country. Cornelsen recently told his clients that Brazil’s new minister of sports, Ricardo Leyser, is trying to find a way to increase ticket sales. But with the Zika virus scare and the fact that President Rousseff may be impeached, or she may resign, increasing ticket sales is a difficult task. Cornelsen thinks investors that are thinking of returning to Brazil will also stay away because of the current state of the economy and the political turmoil.

One Brazilian newspaper recently reported that the government may buy all the remaining tickets and give them away to children in public schools. That may not be the best solution for Brazil’s economy, but it is a step in the right direction to help stop some of the social unrest.

Mr.Igor Cornelsen said on a flickr post he is also concerned about the construction time table. The Olympic facilities may not be finished on time because the budget to complete the project was cut by $500 million at the beginning of 2016. If Brazil doesn’t show the world that the country can make a comeback in spite of the Zika virus and the political situation, investors are going to continue to stay away from Brazilian assets, according to Cornelsen.

The Olympics can still help Brazil, but Brazil has to help itself now more than ever, according to Igor Cornelsen. Brazil needs to stand strong and maybe the Olympics will help the country do that, according to Mr. Cornelsen.