Rebirth of the Brazilian Venice

“During much of the 1990s, information technology students in Brazil’s northeastern city of Recife were all given the same advice when they graduated: leave Recife.

The city had established itself as the northeast’s IT hub in the 1970s and 1980s, attracting companies such as IBM, the US technology group, but Brazil’s economic crisis in the early 1990s pushed the sector close to collapse. IT professionals were forced to flee to São Paulo, Rio de Janeiro or the US in search of work.

However, the establishment of the Porto Digital information and communications technology park in Recife’s abandoned port 13 years ago has not only helped to retain talent in the region, but also played a role in transforming the city’s economy.

“Porto Digital was not just a way to fix the ‘brain drain’ we were suffering, but also an attempt to create an economic model for the city based on information and knowledge,” says Francisco Saboya, Porto Digital’s president.” – More here at FT

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