BUSINESS MONDAY: Making do without Crop Over

FOR the second consecutive year, the Barbados economy will have to make do without the $90 million-odd injection from the Crop Over festival.

Today is usually celebrated as Kadooment Day, which brings the curtain down on the festival held annually to promote culture, boost the earnings and exposure of cultural practitioners, and to contribute towards economic activity in what traditionally is a slow period in the annual economic cycle of the economy.

However, with the COVID-19 pandemic having prevented the staging of Crop Over last year and again this year, the economy will have to make out without those inflows, at a time when it needs them.

Studies have shown that Crop Over generates between $90 million and $100 million (even though some have said the number is higher).

This stems from the spending on a wide range of goods and services that are directly related to the festival, which lasts from June to early August.

That expenditure includes spending on materials to make costumes, jingles, and by those who visit salons to have their hair and nails done. Other spending is on food and beverages, on tickets to attend several events which make up the festivals, and that by visitors to the island.

There is also private sector and Government spending on sponsorship of the Crop Over events.

The Bridgetown Market, which is held on the weekend leading up to Kadooment Day, provides as well an outlet for vendors and small businesses to ply their trade, making for an opportunity to gain from the festivities.

Many have ventured to rate the spending around Crop Over with that of Christmas.

The festival is now a high point in the annual calendar of events and those who are among the key players in it – bandleaders, entertainers, music promoters – remain adamant they be given a subsidy or some kind of financial support to help them to make up for the lost in earnings.

The money has to come from somewhere, possibly Government.

For the three months to June this year, Government said its expenditure was about $558.0 million, compared to $570 million a year ago, and the almost $700 million in 2018.