Today you're probably thinking about King Cakes, Hurricanes and beignets, but we at bizologie are thinking about the business side of Mardi Gras. Ok, maybe we're thinking a little bit about King Cake. In a report commissioned by the Carnival Krewe Civic Fund and conducted by Tulane University, the 12 day festival has a significant economic impact on the city of New Orleans. Here's how the numbers break down:
The city's return on investment, including brand value (money spent outside the Mardi Gras season), is $4.48 for every dollar spent. Additionally, Mardi Gras represents over 1% of the city's GDP--that's 1% in just 12 days!