Brazil Carnival Budget: Annual festival set to boost ailing Rio de Janeiro economy

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Revellers are out in the streets of Rio de Janeiro celebrating carnival. Many are looking for a way to get their minds off Brazil's political and economic crisis. It's also an opportunity for visitors to have fun and generate revenue to help the city's ailing economy. CGTN's Lucrecia Franco has the story in Rio.

The drums mark the rhythm of Brazil's most awaited time of the year. In Rio, carnival lovers have taken to the streets to dance and also to profit off the city's famous party.

With unemployment hitting around 12 percent, according to the latest official numbers, the party is the moment to make some extra money.

Liana Oliveira is selling coconut water to thirsty revellers and has high hopes:

LIANA OLIVEIRA STREET VENDOR "I have been unemployed for months now, and I am looking forward to earning some money in these days to pay my bills. I have many debts."

Rio officials are expecting one-and-a-half million tourists, who will spend around a billion dollars. Many of the visitors are from abroad.

HARRIETT ATWOOD BRITISH TOURIST "Everything seems so fun and exciting, and we don't feel worried about anything, to be honest with you. It just seems everyone is just having a good time."

ADRIANA SOLA ARGENTINE TOURIST "Perfect, nothing wrong. Last night, we went out at night, there was police, beautiful, having a good time."

LUCRECIA FRANCO RIO DE JANEIRO "More than 450 street bands, like this one, are parading in this year's Carnival. It is free and a way to promote the city as a must-go destination."

Michael Nagy is the commercial director of the Rio Convention and Visitors Bureau. He says occupancy is at 95 percent.

MICHAEL NAGY COMMERCIAL DIRECTOR, RIO CONVENTION AND VISITORS BUREAU "This is the legacy of these modern hotels from the World Cup and the Olympics. You are looking at Rio, more dynamic and cheaper than it used to be, due to the fact that there is more competition. It is all going in the right direction."

A bright spot for the city's ailing economy. Lucrecia Franco, CGTN, Rio de Janeiro.