Ghana could be losing out on billions in tourism revenue due to underinvestment in carnival, the Chief Executive Officer of the World Carnival Commission (WCC), Mr. Pax Nindi, has warned.

Speaking during a visit to Accra, Mr. Nindi described carnival as a “goldmine” capable of transforming Ghana’s economy if properly developed, citing global success stories where strategic investment has yielded massive returns.

“Ghana is sitting on a goldmine but does not know it,” he said. “Carnival is a business that generates significant revenue, and the country is yet to fully tap into its potential.”

He pointed to Brazil as a leading example, where an estimated £200 million investment in carnival generates about £1.5 billion in returns. He also cited Goa in India, where authorities reportedly invest around $10 million and earn close to $1 billion from carnival activities.

Globally, carnival events attract more than 50 million participants and generate approximately $15 billion annually, highlighting the scale of opportunity available to countries that invest in the sector.

Mr. Nindi stressed that Ghana, widely regarded as a safe destination, is well-positioned to become a major hub for carnival tourism but requires deliberate policy direction, funding, and industry organisation.

His remarks come as the WCC collaborates with the Ghana Federation of Masqueraders and Fancy Dress (GFMFD) to develop the Black Star Carnival into a globally competitive event.

As part of the initiative, the Commission plans to host a three-day international conference in Ghana, bringing together stakeholders from countries including the Bahamas, Colombia, Trinidad and Tobago, and Brazil. Participants are expected to stay for up to two weeks, providing a direct boost to tourism and local businesses.

Mr. Nindi also called for investment in youth training, digital education, and local production, urging stakeholders to leverage Ghana’s cultural assets and natural resources to build a sustainable carnival industry.

He warned, however, that political discontinuity remains a major obstacle, with many initiatives often abandoned following changes in government.

President of the WCC, Mr. Henry Lewis Antonie, reinforced the economic argument, stating that investment in carnival artists and infrastructure yields strong returns while creating jobs and promoting national identity.

“If you invest in carnival, you receive twofold or more in returns,” he said.

The Black Star Carnival initiative seeks to unify masquerade and fancy dress groups under a single platform, positioning Ghana as a global destination for cultural celebration.

Mr. Nindi expressed optimism that with the right support and long-term commitment, Ghana could unlock the full economic value of carnival and establish a lasting legacy beyond annual festivities.