Jamaica’s Carnival celebration continues to show its weight in financial gold, with Tourism Minister Hon. Edmund Bartlett asserting that Carnival in Jamaica generated roughly J$95.4 billion in whole financial influence and supported an estimated 115,247 full-time equal jobs throughout numerous sectors in 2024.
The announcement was made in the course of the presentation of the Carnival in Jamaica Financial Affect Evaluation, held on the Tourism Product Improvement Firm (TPDCo) Boardroom in Kingston on Tuesday, April 15.
“This landmark examine, performed by Dr. Michael Marshall of the College of the West Indies, gives compelling proof of what now we have lengthy believed, that carnival shouldn’t be merely a cultural celebration however a robust financial engine in Jamaica,” stated Minister Bartlett.
The evaluation seemed on the financial results of Carnival from 2018 to 2024, analyzing its direct, oblique, and induced influence, in addition to its funding potential for each private and non-private stakeholders.
Launched by the federal government in 2017, the Carnival in Jamaica initiative has grown into what Bartlett known as an “financial powerhouse,” immediately injecting J$4.42 billion into the financial system in 2024—a 44.2 per cent enhance over 2019, the report’s benchmark yr as a result of COVID-related disruptions from 2020 to 2022.
– Commercial –
“Once we issue within the multiplier impact, that’s the oblique and induced influence, Carnival’s whole financial contribution to Jamaica in 2024 reached an astounding J$95.4 billion in its whole output,” Bartlett said.
Much more notable was the return on funding. “The outstanding return on funding underscores what we’ve all the time identified – that funding in our cultural industries yields dividends that far exceed their preliminary price,” he stated, noting that for each greenback invested in Carnival, the Jamaican financial system reaped J$130 in return.
Employment was one other main win. Carnival bands immediately employed 55 full-time employees and over 1,750 part-time staff final yr. However the broader employment influence was far-reaching. “Our financial evaluation signifies that via direct, oblique and induced results, Carnival in Jamaica supported roughly 115,247 full-time equal jobs all through our financial system in 2024,” Bartlett defined.
Revenue technology was additionally important, with Carnival-related actions contributing J$19.14 billion to Jamaican staff and companies.
The occasion attracted about 5,400 worldwide guests in 2024, 75 per cent of whom have been from the US. “These guests spend a mean of US$3,209 per particular person, injecting some US$12.5 million immediately into our financial system,” the Minister stated. Encouragingly, 54.5 per cent of those patrons have been first-time attendees.
Whereas the worldwide displaying was spectacular, native participation outpaced customer turnout, with round 7,400 Jamaican patrons participating. These members spent a mean of J$252,900, leading to J$1.73 billion in direct native spending.
“From health centres to magnificence companies, from transportation to meals and drinks, the financial good thing about Carnival extends to companies massive and small all through Jamaica,” Bartlett emphasised.
Non-public sector assist for Carnival additionally grew considerably, with investments rising to J$727 million in 2024. “These spectacular figures affirm what now we have all the time believed – that Carnival isn’t just a celebration of our tradition however a critical enterprise that deserves strategic funding and assist,” the Minister stated.
The subsequent Jamaica Carnival Road March is scheduled to happen in Kingston on Sunday, April 27, 2025.
