Cultural ROI exceeds industrial sector

The economic return for every real invested in culture and the arts - including Carnival - is higher than that of some traditional industrial sectors, such as the automotive industry. In an interview with Agência Brasil during her visit to Brazil to study the creative economy surrounding the festivities, Italian-American economist Mariana Mazzucato highlighted the power of the country’s biggest festival. “Public investment in the arts and culture contributes far more to the economy than much of the traditional manufacturing industry,” said Mazzucato. Notícias relacionadas: Brazilian economy expected to grow 2.44% in 2026 budget forecast. New Year’s Eve in Rio draws 2.6M people to Copacabana. “However, governments continue to invest more in these traditional industrial sectors, even though the evidence exists. It’s not true that we lack evidence,” she added. In Brazil, while one real invested in culture can generate BRL 7.59 in return for society through jobs and income, one real inves