Recession Impacts Companies As Rio Struggles to Sign Sponsors For New Year's Events

08/11/2017 - 11h32

Municipal tourist agency Riotur did not manage to sign any sponsors for Rio de Janeiro's New Year's events. The deadline to submit bids was Monday (the 7th), but there were no interested parties.

The program anticipated events between the dates of December 26th and January 6th, or, as city hall called it, an "extended New Year's". No bids were submitted for the single R$ 12 million (US$ 4 million) sponsorship or any of the six R$ 3 million (US$ 1 million) sponsorships.

The municipal tourist agency will be maintaining the sponsorship rates, although it does plan on changing the delivery of the proposals to see if it can stimulate competition among potential sponsors.

Despite the fact that not a single bid was submitted on Monday, ten advertising agencies went to the municipal agency's headquarters to accompany the public auction.

Riotur president Marcelo Alves issued a statement which read that "New Year's celebration is a Rio tradition and it is not in jeopardy. What we're doing is we're trying to attract private sector funding so we can turn the best New Year's party into something even better".

RECESSION

This isn't the first time Rio de Janeiro has struggled to sign sponsors for its New Year's celebration.

In 2016, the city only managed to sign two partners in November, thus delaying the release of the event program containing the list of artists who would be performing.

The fireworks display was reduced from 16 minutes to 12. Some people even requested that, due to the recession, the event should be canceled.

Translated by THOMAS MATHEWSON

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	Ricardo Moraes/Reuters
	A couple watch as fireworks explode over Copacabana beach during New Year celebrations in Rio de Janeiro