Brazilian blue ocean: China’s latest tech frontier
Facing fierce competition at home, China’s tech giants are making billion-dollar bets on Brazil’s booming digital economy.
Meituan pledges a $1 billion investment over five years for its Brazilian food delivery service, Keeta.
Chinese smartphone penetration in Brazil reaches 99.1%, boosting consumer digital adoption.
Didi relaunches its Brazilian food delivery service "99 Food" despite previous setbacks.
MIXUE, a leading Chinese tea chain, prepares for a substantial investment in Brazilian agricultural supply chains.
For decades, Brazil has been a tantalizing but challenging market for global businesses. With Latin America’s largest population (210 million) and the highest GDP ($2.35 trillion), Brazil represents enormous untapped digital potential.
Now, facing intense competition at home, Chinese technology companies are pouring billions into Brazil, betting that the country’s growing digital economy and consumer base will justify the hurdles.
Entering the last blue ocean
Brazil, previously famous internationally for football, samba, and carnival, now attracts Chinese firms as a critical hub for global expansion. After tapping Southeast Asia and Western markets, China’s tech giants see Latin America—and specifically Brazil—as the last major untapped market, described as their "final blue ocean."
Brazil’s scale is unmatched in Latin America, with a population of 210 million and a per capita GDP of $11,178 as of 2024—closely resembling China’s own economic profile.
Importantly, Brazilians exhibit strong consumer spending power, averaging $6,800 annually, higher than their Chinese counterparts. This combination of scale and consumerism, along with less entrenched foreign competition compared to Mexico, positions Brazil as an ideal launchpad.
Companies like Huawei and BYD were early pioneers, setting foundations in telecommunications and electric vehicles respectively. Huawei’s network-building efforts since 2004 accelerated Brazil’s internet penetration, while BYD's electric buses spearheaded the local EV market.
Today, smartphones are near-universal among Brazil’s internet users—about 99.1% own smartphones in 2024, according to Statista—laying the groundwork for broader digital expansion.
Billion-dollar bets
Recent months have seen an intensified push by Chinese companies.
Meituan, China's largest food delivery giant, plans a staggering $1 billion investment in Brazil over five years to support its Keeta platform.