The Rio de Janeiro Carnaval celebration, in Brazil, is certainly spectacular. It is also quite sensational from an economic perspective.
It is estimated that no less than US$ 463 million in business is generated by Carnaval, while 300,000 people have jobs connected with the effort to make Carnaval celebrations spectacular and successful.
The Small Business Administration of Rio de Janeiro (Serviço de Apoio à Micro e Pequena Empresa do Rio de Janeiro) (Sebrae-RJ) ran a survey on the Carnaval productive chain and found that the event generates enormous demand for the goods and services of a broad gamut of small businesses.
"We are going to work on government projects and policies that focus on developing this sector. We can increase business and generate even more jobs and income," says Sergio Malta, the president of Sebrae-RJ.