Daniel Slotta
Research expert covering Greater China
Consulting industry in Brazil - statistics & facts
With a population of roughly 210 million people, Brazil has one of the largest markets for professional services in Latin America. In the last years, the Brazilian service industry has been fueled by the increase in innovative fintech companies together with a growing consumers market. Despite recent economic tribulations caused by the COVID-19 crisis, fintech companies such as Nubank grew its customer base from around 1.3 million in 2016 to almost 75 million in 2022. Nevertheless, this increasing customer base could not be translated into increasing revenues since Nubank still recorded a negative income of approximately 305 million Brazilian reals in 2020. Inevitably, consulting companies play an important role in assisting such companies, and further supporting the growth of the Brazilian service industry through their guidance and expertise.
