page_title: Economy of Rio de Janeiro
section_title: Finance and other services
hierarchical_section_title: Economy of Rio de Janeiro / Finance and other services
caption_attribution_description: A View to Downtown, Rio de Janeiro, Brazil
context_page_description: The Economy of the Rio de Janeiro City is the 2nd largest regional economy and financial center in Brazil, both one of the largest in Latin America and one of the fastest growing in the world.
  In 2017, the city's GDP was estimated at US$105 billion, or 7% of the country's purchasing power parity, making the Rio de Janeiro's fourth richest city in Latin America, behind only Mexico City, Sao Paulo and Buenos Aires, as well as the 30th largest metropolitan area GDP in the world - ahead of cities such as Rome, Barcelona and Beijing.
  The city possesses a robust and highly diversified economy, providing large-scale employment in heavy and light industry, manufacturing, commerce, finance, trade, and other service sectors.
context_section_description: Having been the capital for more than 300 years, the city of Rio de Janeiro is the site for the headquarters of many private, national, multinational, and state corporations, even when their factories were located in other cities or states. Despite the transfer of the capital to Brasília, many of these headquarters remained within the Rio metropolitan area, including those of Petrobrás, the state oil company, and the National Economic and Social Development Bank, a federal investment bank. As with manufacturing, Rio is an important financial center, second only to São Paulo in volume of business in financial markets and in banking. Its securities market, although declining in significance relative to São Paulo, is still of major importance. Owing to the proximity of Rio's port facilities, many of Brazil's export-import companies are headquartered in the city.
  In Greater Rio, which has one of the highest per capita incomes in Brazil, retail trade is substantial. Many of the most important retail stores are located in the Centre, but others are scattered throughout the commercial areas of the other districts, where shopping centres, supermarkets, and other retail businesses handle a large volume of consumer trade. Rio is one of the premier tourist destinations in the world. The city's vibrant culture and many museums, historical sites, and physical features, especially the beaches of Copacabana and Ipanema, attract large crowds of visitors, as do events and festivals such as the annual Rio Carnival and New Year's Eve celebrations.
caption: The Avenida Presidente Vargas in Downtown Rio, one of the main business districts of the city
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