The service sector grew 11.1% in the first half of this year in the city of São Paulo, compared to the same period last year, reported today (4) the Federation of Trade in Goods, Services and Tourism of the state of São Paulo. (FecomercioSP).
The sector’s revenue reached BRL 313.4 billion in the first 6 months of the year, a difference of BRL 31.2 billion compared to the same period in 2021.
According to the federation, the increase was driven by a growth of 150.5% in revenue from the tourism sector. For the entity, the return of business events, such as fairs and conventions, in addition to the gastronomic offer, had a positive impact on the results of the first half.
FecomercioSP expects the second half of the year to end with a rise of 7.3%, with an estimated revenue volume of R$ 350 billion.
For the entity, despite the data being extremely positive, the scenario is still one of uncertainty, due to the maintenance of high prices, high interest rates and the large volume of people in debt.
“The conjuncture, by allowing optimism, also requires from the sector’s entrepreneurs adjustments in investments and expenses according to the movement of cash flow, in addition to cost reductions and new debts”, recommends Fecomercio.
