Olympics can help rebrand Brazil for the better

THE Olympics begin on Friday in Rio, the first time that the Games have been hosted in South America. In the midst of an economy in its worst recession for decades, a president who is being impeached, not to mention the potential threat of terrorism and the Zika virus, Brazil is badly in need of a brand makeover and the world's biggest sporting event could help enable this.

As Acting President Michel Temer has highlighted, a key goal is to present a vision to the world of a modern, vibrant democracy and stable emerging market that is a prime destination for future investment and tourism. And with an estimated five billion people watching, former president Luiz Inácio Lula da Silva has also asserted that Brazil now has a first-class opportunity to show it "can be a great country" after a troubled time.

Two major questions arise. Firstly, can a country's reputation be enhanced in the same way as a corporate (or other organisation) might do? And, secondly, can this have a significant, sustainable national economic impact?