Sao Paulo: A Latin American Giant
It may lack the beautiful natural backdrop of Rio, but Sao Paulo is undoubtedly the cultural and economic heart of Brazil. Although it was founded by proselytizing Jesuits in 1554, Sampa — as it's affectionately known — remained an isolated backwater until the 19th century. Now the largest city in the Southern Hemisphere, Sao Paulo is a powerhouse in Latin America, with an economy roughly the size of New Zealand.
The state of Sao Paulo accounts for about a third of Brazil's GDP, much of this coming in the form of a formidable2 service sector. Major corporations have set up shop here, and the city's stock exchange is one of the world's largest. The International Congress and Convention Association rates the city as the most important event host in the Americas, with more than 200 events held daily. Sao Paulo's industrial output is similarly huge. Around 10 percent of the population works in one of the city's thousands of factories, producing everything from textiles and electronics to pharmaceutical products and furniture.
