Are Carnival festivities profitable or not?

 

Friends enjoying Carnival, Image by Carnival Network
Friends enjoying Carnival, Image by Carnival Network

Every year for Carnival, hundreds of travellers visit the islands to celebrate this event. Most visitors, once they experience Trinidad and Tobago’s Carnival return. Sometimes they will even encourage their friends and relatives to visit. As a result, the influx of tourism designed events has become a primary source of revenue for the food and beverage, and hospitality industry, as well as generates employment opportunities.

Although, a figure regarding the influence of Carnival on the food and beverage industry varies, depending on which organisation is sharing the information. Its contribution to the country’s Gross Domestic Product, in 2011 was 4.6 percent. Consequently, to this date, it is considered the largest non-energy manufacturing segment of the economy. 

Supporters of Carnival argue that the country would invest the foreign exchange earned from the sale of goods and services to tourist. Further to this, job openings during the season with help the unemployed and reduce crime. 

Nevertheless, how does this investment affect agricultural development and the food and beverage industry? It’s simple, in one area it will relieve some of the strain the financial system places on the oil sector. It will also provide funding to support the development of the Trinidad and Tobago’s food systems. But then again who in the economy profits from this event. Is it the farmer? The fisherman? Alternatively, the value chains do.

When local farmers are unable to meet the demands of the season, hotels and restaurants import the balance. Thus, the farmer seldom gains financially from the Carnival experience. 

I want to hear from you, what big events in your country generate profits to the farmers? 

The link below offers some insight into the Carnival experience and to why some person may be willing to pay top dollar to be a part of it.

For further Reading

http://www.newsday.co.tt/commentary/0,115588.html

http://www.academia.edu/326827/_Money_Matters_in_the_Trinidad_Carnival_

http://www.tradeind.gov.tt/Home.aspx

Advertisements

Leave your questions and comments below, I'd love to hear from you.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s