What economic benefits from Junkanoo in Grand Bahama?

What economic benefits from Junkanoo in Grand Bahama?

    Junkanoo in The Bahamas is as big as carnival in Brazil to Bahamians. It’s our very own parade that is celebrated and held in high regard in the hearts of many Bahamians. The costumes empower the people that perform, the music exhilarates them reaching to their very core, and the dancing is their expression of what is felt in that moment. This is described as the greatest benefit from Junkanoo but what exactly is the economic benefit of the celebration. An economic benefit is identified by how much income is gained. There is no doubt that money is generated from Junkanoo, but is the profit made more or less than the expenses that were invested into the event? A surprising, yet better question would be whether or not the Junkanoo industry gains any profit at all. The government spends a substantial amount of money on the parade but in reality, sees nowhere near the amount invested gained back. The Junkanoo industry that includes the dancers, musicians, and creators of the event gain little to no profit. Profit from the event goes to local stores and businesses in what is defined as a “spill-over effect.” This term is what used to describe the process by which money is spent on supplies, materials, and resources for Junkanoo. A large amount Money is also spent on the imports of overseas items that cannot be obtained locally. An article was written by Nicolette Bethel titled “The Economic Impact of Junkanoo in The Bahamas” provides documents of the expenses and profit of Junkanoo in 2005-2006 (Bethel).  It is true that there is a benefit to Junkanoo; one of pride and a feeling of enjoyment but there seems to be a lack of any economic benefit gained.

A Document from Nicolette Bethel's article "The Economic Impact of Junkanoo in The Bahamas" which displays the estimated amount of expenses of Three(3) major Junkanoo parades of the years 2005-2006.
A Document from Nicolette Bethel's article "The Economic Impact of Junkanoo in The Bahamas" which displays the direct profit and loss of money of Junkanoo to the Ministry of Youth, Sports and Culture from the year 2001-2006