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NEW ORLEANS — You’ve heard how plunging oil prices could hurt the Louisiana economy. But new numbers are in on another revenue source — Carnival.
There was a time financial success was measured in how many tons of garbage was picked up. Now, thanks to the most recent economic study at Tulane we now know last year’s Mardi Gras pumped in $465 million dollars to Orleans Parish alone.
“These are bigger than I expected to see,” says Professor Toni Weiss of Tulane University’s Freeman School of Business who figures $17.5 million in tax revenues goes to local government entities.
Scott Wolfe who runs Melba’s Restaurant says he doesn’t need a study to show Mardi Gras 2015 is already off to a better start than last year, “Last year we sold 81-thousand wings and this year we are expecting to sell 100-thousand.”
Wolfe says Melba’s is a good economic gauge because they cater primarily to locals celebrating Mardi Gras, “What’s going to happen next weekend is I hope we can handle the business. Plus 15 to 20 percent of our customer base are tourists.”
Study also showed Mardi Gras makes close to 2.5 percent of New Orleans’ Gross Domestic Product
Tulane will wait until 2016 to collect the next Mardi Gras economic impact data.
“We’re doing great,” says Wolfe. “Our numbers are through the roof. The rest of the country is stressing out, so they just come here and have a good time.