RIO DE JANEIRO, Feb. 24 (Xinhua) -- Brazil's most famous celebration, Carnival of Brazil, begins on Friday and last until March 1, bringing an economic windfall calculated at 5.8 billion reais (1.86 billion U.S. dollars).
According to estimates from the National Confederation of Commerce (CNC) this week, while Carnival is celebrated across the country, its most famous highlights are in Rio de Janeiro and the northeastern city of Salvador. Both cities compete to get more tourists and be named the biggest party in the world.
According to the CNC, over 85 percent of the economy that drives the carnival is related to the sectors of food, transport and lodging industries. The bar and restaurant sector alone could see an income of 3.8 billion reais (around 1.2 billion U.S. dollars) while accommodation could reap 652.5 million reais (about 210 million U.S. dollars).
The states of Rio de Janeiro and Sao Paulo, both in Brazil's southeast, are predicted to be the biggest winners, claiming 68.2 percent of the economic boom.
Rio de Janeiro is expected to see 1.1 million tourists arriving for the Carnival, 10 percent more than last year, according to its state tourism company, Riotur.
However, Brazil's economic crisis and deep recession have not spared the carnival. Subsidies from governments to samba schools and street parties have been slashed, with a number of schools saying they do not have the funds necessary to put on their full shows.
Rio de Janeiro's famous Saara market, where many Carnival costumes and accessories are sold, has also seen trade down by around 30 percent this year.