Economy of Sao Paulo

The São Paulo Stock Exchange (BM&F Bovespa) is Brazil's official stock and bond exchange. It is the largest stock exchange in Latin America, trading about R$ 6 billion (US$ 3.5 billion) every day. São Paulo's economy is going through a deep transformation. Once a city with a strong industrial character, São Paulo's economy has followed the global trend of shifting to the tertiary sector of the economy, focusing on services. The city is unique among Brazilian cities for its large number of foreign corporations. 63% of all the international companies with business in Brazil have their head offices in São Paulo. São Paulo has the largest concentration of German businesses worldwide and is the largest Swedish industrial hub alongside Gothenburg. São Paulo ranked second after New York in FDi magazine's bi-annual ranking of Cities of the Future 2013/14 in the Americas, and was named the Latin American City of the Future 2013/14, overtaking Santiago de Chile, the first city in the previous ranking. Santiago now ranks second, followed by Rio de Janeiro.

The per capita income for the city was R$ 32,493 in 2008. According to Mercer's 2011 city rankings of cost of living for expatriate employees, São Paulo is now among the ten most expensive cities in the world, ranking 10th in 2011, up from 21st in 2010 and ahead of London, Paris, Milan and New York City.