Economic crisis shuts small shops in Rio de Janeiro

Global Business

Economic crisis shuts small shops in Rio de Janeiro.00_01_37_16.Still002

Long gone are the days of frantic activity at Odete’s beauty salon in Ipanema, one of Rio’s most affluent neighborhoods. Odette’s business is shrinking along with Brazil’s economy.

CCTV’s Lucrecia Franco filed this report.

Economic crisis shuts small shops in Rio de Janeiro

Economic crisis shuts small shops in Rio de Janeiro

Long gone are the days of frantic activity at Odete's beauty salon in Ipanema, one of Rio's most affluent neighborhoods. Odette's business is shrinking along with Brazil's economy. CCTV's Lucrecia Franco filed this report.

More details:

  • One of the most dramatic business closures can be seen on Rua da Carioca in Rio’s busy center, where half of the stores have shut their doors in less than a year.
  • Fabio Bentes, an economist for Brazil’s National Confederation of Commerce, says sales in Rio have dropped 3.6 percent this year. The first time this has happened in a decade.