… As Carnival is valued at $2billion
It was wonderful outing for the Carnival Calabar contingent at the just concluded Akwaaba African Travel Market in Lagos where the Governor, Senator Bassey Otu unveiled the 2023 Carnival theme, the season of sweetness.
It was a wonderful experience as the Carnival dancers showed a little of what awaits the guests in December and the atmosphere in Eko Hotel was electrified following the the wonderful performance by the queens.
Guests and exhibitors were excited to see the Carnival dancers perform at the expo.
Those that have not attended the Carnival experienced first hand what it will be like to be in calabar for the Carnival.
Speaking while unveiling the theme, Governor Otu explained that it is the belief of his administration that the Carnival has come of age and should deploy all efforts at sustainability and inclusion to achieve set goals by exploring a robust Public Private Partnership framework to achieve mutually beneficial relations in Naming Rights, Endorsements, Sponsorships, Merchandizing and Activations.
He pointed out that it is in the realization of these waiting opportunities that he directed that the children s carnival, aqua show and the exciting and colorful Night of Kings and Queens to return to the Carnival Calendar to create more opportunities for sponsors visibility.
In her presentation at the expo in Lagos, titled building sustainable cities through tourism, the consultant to Carnival Calabar, Mary Ephraim Egbas said that Carnival is valued at $2billion.
Egbas stated that the valuation include the brand value/ equity, brand assets,royalty reliefs, licensing/ticketing, extensive marketing and advertising, ambassadorship and sponsoring brand exposure, return on investment potential among others.
She observed that the Carnival can be the catalyst for a new economy for Cross River state.
Egbas disclosed that the Carnival Calabar is due for a rejig with a renewed focus to create and execute an event that meets certain milestones and as a catalyst to the transformation project of moving from municipals to cities.
She stated that Carnival Calabar is more than an event; but an investment in a rich cultural heritage and a dynamic future.
Egbas explained that events and entertainment have been used in several cities and countries to attract investments and people,thus promoting economic growth and development.
She noted that : “In 2020, the revenue generated by the tourism and services
sector during the Carnival season in Brazil was projected to be the highest since 2015. Carnival Contributed A Round
7.91billion Brazilian reals ($1.47B)to the Brazilian economy in 2019,and this
value was expected to reach 7.99billion reals in 2020. The largest share of this revenue would be generated in the
state of RiodeJaneiro.
On the economic impact of Carnival In
Calabar with a forecast for
2023/2024, the consultant pointed out that Carnival Calabar can contribute billions of dollars to the economy of the state transforming its fortunes and creating a better life for its people.
Egbas explained that the Carnival Calabar & festivals content currently has the capacity to meet the goals,
promptly identify revenue areas of the event, position the event as an international event held in the state,
gets strategic partnerships in the private sector,design programs for events to deliver quality presentations that can attract international audience.
According to her: “This new administration having worked on the carnival as a consultant we have understudied the event and
have fully identified the gaps that
continue to undermine the event’s ability to be an important source of revenue for the state
and this will be promptly addressed to reposition the Carnival Calabar and the future of the State.
Under the visionary leadership of His
Excellency, Senator Prince Bassey
Edet Otu, the Carnival Calabar
presents a golden opportunity for
private sector investors and the
investment community alike”.
She listed some of compelling reasons
to consider investing in the Carnival to include: With an estimated. asset worth a staggering 2billion dollars,the Carnival Calabar is backed by substantial assets, offering a secure foundation for your investments. Solid Assets value, as over the years, the Carnival Calabar has demonstrated consistent growth and success.
She said the street party is a
well-established event with a strong track record of attracting both local and international audiences with a
proven track records that can significantly boosts tourism and the local economy.
On Brand Exposure: She maintained that as an investor, they will benefit from extensive brand exposure because Carnival Calabar is a globally recognized event, as association with it can enhance investors brand’s visibility and reputation.
“The carnival offers a range of investment opportunities, from sponsorship. and advertising to
infrastructure development and hospitality services.
You can choose the avenue that aligns best with your investment goals.
Diverse Investment Opportunities:
With its massive appeal and continuous growth, the Carnival Calabar presents the potential for a substantial return on investment. Your participation
can yield both short-term and long-term gains. Investing in the carnival isn’t just about profits;it’s about making a positive impact. Your investment supports the local Community Engagement, creates jobs, and fosters cultural exchange”, she said.
Egbass stated that the carnival attracts a diverse audience, including
government officials, business leaders, and cultural enthusiasts from around the world, adding that it’s anexcellent
platform for networking and exploring new opportunities.
She observed that Carnival Calabar is committed to sustainability
and responsible practices.
Speaking also, Gabe Onah, the Chairman of the Carnival Calabar Commission stated that they are in Lagos to give visitors the best of Calabar.
Onah stated that the state is blessed with new thinking because Carnival product must be reviewed, and must stand alone.
He said the state has always been blessed with policy leaders who strive for the best to put the Carnival on the international scene.
The Chairman of the Carnival Calabar Commission added that the Carnival is coming to back Akwaaba African Travel Market after three years of layoff, due to COVID 19, adding that now they are now ready to fly.
In her remarks at the expo, Band Leader of Seagul, Senator Florence Ita-Giwa, commended Uko for his consistency, and addition of medical tourism, which will help medical practitioners in Nigeria.
Senator Ita-Giwa said Carnival Calabar has come to stay because the event is not just dancing , but telling critical stories through dancing and costumes.
“We have imbibed the spirit of the Carnival, the last time, we took up the issue of climate change using dance to tell the story. The materials, objects and images we use for the Carnival are created in Cross River State.
The Carnival is three months of non rest, no sleep. Now we have a man that comes from where the Carnival started as the Governor is going to be a different story”.
