Drop in Valentine’s Day spending in Brazil

Global Business

In Brazil, Valentine’s Day is not celebrated in February since that is usually when Carnival is held. So, instead, Brazilians celebrate their love for their mates on June 12th. But this year, there are signs that people won’t be spending much money to show their love. CCTV’s Paulo Cabral filed this report.

Drop in Valentine's Day spending in Brazil

In Brazil, Valentine's Day is not celebrated in February since that is usually when Carnival is held. So, instead, Brazilians celebrate their love for their mates on June 12th. But this year, there are signs that people won't be spending much money to show their love. CCTV's Paulo Cabral filed this report.

Follow Paulo Cabral on Twitter @paulonumundo

In a recent survey, 80 percent of people interviewed said gift prices have gone up this year. More than half of consumers said they planned to spend less money on Valentine’s Day this year compared to last year with many saying unemployment and debt were the main reasons why.