Currently, Brazil has one of the fastest growing economies in the world and a labor force of 107.1 million. Brazil has taken steps in recent years to open the economy and make it more suitable for private-sector development. So, what does this mean for growth of the corporate training space?
When assessing the demand for corporate training in this growing market, it is crucial to take a look at workforce demographics. What is the average age of the workforce? How technologically skilled is the workforce? To what major business sectors does the workforce belong?
A large workforce that lacks skills
As the economy grows, one of the biggest challenges facing Brazil is that it currently lacks an educated workforce. Like the other BRIC countries, the Brazilian education system does not adequately prepare young people for skilled jobs in the manufacturing and service sectors.
Another result of the lack of skilled workers is that Brazil is currently importing skilled professionals from doctors to engineers. This highlights a major problem with the current educational system and programs currently available in the country.
The need for better infrastructure
Brazil has struggled to improve its transportation and infrastructure at a rate that can support the economy’s rapid growth in recent years. One of the key factors contributing to this delay is the lack of skilled laborers to complete the work of improving the transportation systems and infrastructure around the country.
With Brazil’s large but unskilled workforce, there is definite potential for the corporate training sector to grow. For a country that has a growing economy, it is absolutely crucial that they focus on improving the skills of their workforce, in order to maintain their growth for years to come.