Next year, Rio de Janeiro, the vibrant heart of Brazil, will play host to the heads of state and government of the G20, marking a significant global event for the city. This announcement was made by the state Governor Claudio Castro, who expressed his excitement about the forthcoming event on Twitter, declaring, “It’s official.”
É oficial! O RJ sediará o encontro da cúpula dos chefes de estado do G20 no próximo ano. As 20 maiores potências econômicas mundiais estarão reunidas e, serão convidadas mais 10 nações, totalizando 30.
— Cláudio Castro (@claudiocastroRJ) May 9, 2023
The G20, a coalition of the world’s most potent economies, collectively represents approximately 85% of the global GDP, over 75% of global trade, and about two-thirds of the world’s population. As such, the forthcoming meeting in Rio de Janeiro is no small affair.
With Brazil set to take over the rotating presidency of the G20 from India on the 1st of December, it’s a golden opportunity for the country to cement its status in global economic discussions. The meeting will take place on the 18th and 19th of November, a Brazilian government official confirmed.
The G20 Summit promises to be the largest event held in Rio since the city hosted the 2016 Olympic Games and the 2014 World Cup soccer final. The G20 Summit will undoubtedly put Rio, and Brazil as a whole, back under the international spotlight, showcasing its capabilities to host such high-profile global events.
G20 was established over two decades ago. Its creation was aimed at incorporating significant emerging economies into discussions that had traditionally been exclusive to the Group of Seven industrialised economies. Following the financial crisis of 2007–2008, the G20 declared itself the main arena for international economic and financial cooperation, organising summits of finance ministers and central bank governors.
The group is composed of twenty members: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. As Brazil gears up to assume the rotating presidency, the world will be watching, and Rio de Janeiro is preparing to roll out the welcome mat to the global economic elite.