Business

Carnaval 2020 expected to inject $2 billion into Rio’s economy

The extended holiday is expected to generate R$8 billion ($2bn) billion in tourism-related activities this year, estimates the National Confederation of Goods, Services, and Tourism (CNC). If confirmed, the turnover represents a one percent real increase over the same period last year and the highest figure since 2015. According to the CNC, “the gradual rebound of economic activity”, low inflation and a stronger dollar against Brazilian real should favour a greater inflow of tourists.

Source: The Rio Times