By: Isabela Senra Barros (Grade 3)

As many people know, this year we are having the 30th Conference of the Parties, popularly known as COP30. However, have you heard about the impacts it has been causing on the economy?

This big event gathers the United Nations, an international organization of member states that work together to provide peace, security and development, to discuss and negotiate measures to mitigate climate change and consequently global warming.

In this case, the governments of each country have to travel to the capital of Pará, which will hold the meeting. As this year’s COP30 is being held in Belém, the local trade is busier than usual. Local residents are charging absurd prices for shelter.

Rents that used to cost R$150 per day are now almost R$ 3,500! Yet, who rents them? Well, Belém, despite having expanded its accommodation capacity, doesn’t have large hotel chains capable of absorbing this atypical volume of visitors at once, generating a high demand.

As there is a high demand and limited supply of over 50,000 people, some hotels and property owners took advantage of the situation to increase prices. The question is: Would you pay such a high price for a daily rate?

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