Famous cultural events in Rio de Janeiro include the New Year's Eve celebrations, where millions of people gather around Copacabana to watch the firework show, the world famous carnival, and the Rock in Rio festival. Rio has also been home to large sporting events such as the 2014 World Cup and 2016 Olympics.
The city also has the second largest GDP in Brazil with headquarters of various oil, mining, and telecommunications companies, including Petrobras, Vale, and Latin America's largest telemedia conglomerate the Globo Group.
The monthly industry in Rio de Janeiro – Supply
Compared to Sao Paulo (the largest city and GDP in Brazil), Rio de Janeiro has a relatively undeveloped monthly industry. Most of the city accommodation base is focused on short-term tourists. Landlords are accustomed to managing their own properties, and often prefer to rent an apartment on a daily basis with a higher per-night rate and lower occupancy rate than to take a stable monthly rate. Apartments are often serviced, but there is also a tendency for units to be overpriced. The quality of apartments is high compared to other Brazilian cities. Rio de Janeiro is on our roadmap for 2016.
The monthly industry in Rio de Janeiro – Demand
The demand structure is spread between business travelers, corporate employees, tourists and students. A lot of demand comes from English-speaking expats.