Update (11/4/19): After exploring The Wizarding World’s versions of New York and Paris in the series’ first two films, Fantastic Beasts 3 is headed to Rio de Janeiro, Brazil.
In addition to the new setting, Deadline reports Jessica Williams’ Professor Eulalie “Lally” Hicks will have a bigger role in the third installment. Lally, a professor at Ilvermorny School of Witchcraft and Wizardry, appeared briefly in Fantastic Beasts 2. J.K. Rowling previously teased Lally’s “true glory” would be revealed in the third film.
Source: IGN.com Fantastic Beasts 3 Is Set in Brazil