Recession hits fetes hard

The downturn in the economy seems already to have had a negative impact on Carnival 2016 fetes and events as two promoters say sponsorship has been either hard to come by or unavailable since some sponsors have pulled out.

Chief executive officer of SouthEx, George Singh, who promotes the Chutney Soca Monarch (CSM) competition, said the cuts have been deep.

It costs close to $10 million to host the CSM, inclusive of prize money. Singh said it was difficult to say the number of sponsors but that there was a drop by 50 per cent.

He told the Sunday Guardian, “In years gone by, sponsors would jump on board even if it was with smaller amounts but this year they have pulled back completely.”

He added that certain corporate sponsors had “gone off” the Carnival party scene.Read More..

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