Mardi Gras offers a huge economic boost to New Orleans every year. According to a 2015 study conducted by Tulane economics professor Toni Weiss, in just one weekend the city brings in $164 million, and $465 million throughout the whole year, in Mardi Gras-related activities and memorabilia. Weiss found that during the five days of Mardi Gras alone, visitors spent $70 million at local hotels and around $61 million total in food, drink, and transportation. Officials tell you to expect to spend $2,600 per person for a flight, hotel, food, transportation, and entertainment over the course of five days of festivities.
The city of New Orleans brings in $17.5 million of taxes just from Mardi Gras. This is only a small percent of New Orleans' assets. Unfortunately, one weekend isn't enough for New Orleans as the city only has $979.2 million to pay $3 billion worth of bills. This equals a $2 billion shortfall, which divides to $18,800 per taxpayer. In Truth in Accounting's 2020 Financial State of the Cities report, New Orleans ranked 71st of the 75 most populated cities and received a D grade for its finances. New Orleans is one of the 32 cities that earned a D.