Jan 6, 2024

Mardi Gras Economic Impact Study

This morning at the annual Kings Day Celebration at Mardi Gras World, the official commencement of the Carnival season in New Orleans, Rex Official James Reiss III and Zulu President Elroy James, the Co-Chairs of the Mayor’s Mardi Gras Advisory Council (MMGAC), announced findings from Tulane Economics Professor Toni Weiss’ study of the economic impacts of Mardi Gras in New Orleans that was jointly commissioned and assisted by the MMGAC and New Orleans & Company.

Among the findings in Professor Weiss’ economic impact report:

  • Total direct and indirect impact of Mardi Gras on the New Orleans economy: $891,202,780
  • Percentage of New Orleans Gross Domestic Product: 3.07%
  • Net fiscal benefit accrued to the City of New Orleans as a result of staging Mardi Gras, including franchise value: $28,028,543
  • Return on the City of New Orleans’ investment in Mardi Gras: $2.64 for every $1.00 spent
  • Increase in State of Louisiana tax revenues as a result of Mardi Gras within the City of New Orleans: $14,300,000

This is Professor Weiss’ fourth study of the economic impacts of New Orleans’ Mardi Gras since her first one in 2009.

Further information on the impact report can be found in the Rex Mardi Gras Economic Impact Study press release.