The world’s largest gay pride parade took place in Sao Paulo, Brazil yesterday with millions of people peacefully gathering to celebrate gay rights. But the event also creates thousands of jobs.

Five million people attended the 12th annual Sao Paulo gay pride march dancing to the music of 20 sound trucks.

“We still see cases of homophobia in the country,” Tourism Minister Marta Suplicy told the crowd.

“We still don’t have a law making homophobia a crime, and that needs to change. Congress has to approve this law.”

Participant Cesar Alves told reporters: “This is a great party, everyone mingles. We respect each other here.”

“This is the diversity the country wants, the diversity that we have to foster as a country seeking a tourist niche among the gay community,” Ms Suplicy told Reuters whilst aboard one of the trucks.

Indeed 330,000 tourists visited Sao Paulo.

The event nets $115 million (£60m) and creates 13,500 direct and indirect jobs.

London’s pride event costs organisers Pride London almost £400,000. The Mayor of London contributes £96,000 towards the event each year.

The new Mayor of London, Boris Johnson will attend his first pride march this year.