Economic Impact of COVID-19 on Brazil's ICT Market

Economic Impact of COVID-19 on Brazil's ICT Market

Brazil, one of the most influential countries in Latin America, witnessed a period of strong economic growth and social progress between 2003 and 2014. This positioned the country as a regional leader on several fronts. The 2014-2016 recession resulted in a downturn in economic activity, and as the country continued to recover the COVID-19 pandemic exposed it to unprecedented health, social, and economic challenges.

A strong and sustained recovery from the far-reaching effects of the pandemic will require urgent, multidimensional measures to boost productivity, generate new jobs, and increase gross domestic product; digital technologies must be the top priority for the country to be an active participant in the global digital economy. The societal benefits would be numerous. From the broadest point of view, it would improve quality of life and allow for a more equitable society. At a more tangible level, it could actually improve the allocation of resources, increase the efficiency of the public sector, and lead to greater transparency and thus greater political development for the country.

This study explores the political, economic, social, and technological factors that will affect the information and communications technology (ICT) sector moving forward. The full digitalization of the economy could improve social inclusion, equality, and quality of life.