d) Primary uses? Intermediate uses?
(e) Impact on economy? Has it had any linkage effects-promoted any other industries (that supply inputs to it/use it as an input)? Has it been instrumental in the country’s growth story.
References- 1) Market Watch-The wall street journal 2) CNBC.com 3) Independent.co.uk
Known by many as one of the exceptional shows on Earth, the Rio Carnival is not a local party anymore. This event draws in groups of visitors from all over the globe and injects hundreds of millions of dollars into the Brazil economy. This started out in the 1600s as the last-gasp of music and celebration before the abstinence of Lent but has now become a multimillion dollar industry.…show more content… With Brazil’s biggest brands such as air carrier TAM S.A. and brewing giant AmBev sponsoring this event, it has now turned the carnival into a brand of its own. It generated around $843 million, in the 2012 carnival, for primarily the hospitality industry. With an average of 4.9 million people taking part in around 424/430 street parties, the carnival has commercialized Brazil as a growing country and highlighted its “ability to host major events’. And now with Rio De Janerio now hosting the 2016 Summer Olympics, the Rio carnival may gain more importance than