Bayou Classic Economics

Well, it is that time of year again for the 24th annual Bayou Classic. The Granddaddy classic of them all. We’re going down to New Orleans and spending hundreds of dollars. Yes, hundreds everywhere from our hotel room, parking, food, to tickets for the Greek show, the Miss Bayou Classic pageant, the concert, and the tickets to the game (no you can’t use your ID to get into the game), and you’ve got to have spending money. All of the money that we spend on Bayou classic weekend pumps more money into the New Orleans economy.
We as college students spend lots and lots of money that can be avoided if we plan and budget our money accordingly. Now, I am not saying that we should not spend our money for the different events, but we can do everything during Bayou Classic weekend very economically. During that weekend everything goes up, because the surrounding businesses know that this is a very big event that it draws people from all parts of the United States. So to avoid all of the extra excess “taxin,” then we need to make wise choices.
Now here is a quick economics lesson. If over 250,000 people are crowding the streets of New Orleans, multiply that by an average of $350 dollars that weekend, which comes to a total of up to $90 million dollars during one weekend. Bayou Classic weekend brings millions of dollars to the city of New Orleans.
Tips for next year so that you do not waste excess money.
1. Book your hotel room early, the earlier you book it, the better rate you can get. In addition, staying closer to downtown will cost you more.
2. Buy tickets to all of the events early! If you plan on attending different events then you can probably get the seat where you want them and at a price that is very reasonable.
3. Do not take all of your money with you when you go downtown. This is the 21st. Century and pick-pocketing still exists. Don’t go downtown with all of your money because if you get robbed you’ll be S.O.L. ( So Outta Luck)
And, that is your economics lesson, on the Bayou Classic