NEW ORLEANS - The Mayor’s Mardi Gras Advisory Council and New Orleans & Company released a new economic impact study on Jan. 6 from Tulane professor Toni Weiss.
The report shows the total direct/indirect impact of Mardi Gras on the New Orleans economy is $891,202,780, which equals 3.07% of the New Orleans GDP.
Weiss calculates that the net fiscal benefit accrued to the city, as a result of staging Mardi Gras, including franchise value, is over $28M and that the city’s return on investment (RoI) is $2.64 for every dollar spent.
In addition, the Carnival season generates more than $14 million in state tax revenues. (Biz New Orleans 01/08/24) Study: Mardi Gras Generates Nearly $900M of Economic Impact - Biz New Orleans
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