The Notting Hill Carnival is currently costing London taxpayers around £20m annually. This figure includes approximately £1m for street clean-up by the Royal Borough of Kensington & Chelsea and over £13.5m for policing in 2024.
The Greater London Authority's (GLA) contribution has seen a significant rise, reaching £5.6m this year. This is a substantial increase from the £340,000 provided in 2016, the first year of Sadiq Khan's mayoralty.
While a 2024 study by a JN Bank economist suggested the event generates around £396m in economic benefit, this income reportedly goes to traders, food vendors, hoteliers, and landlords. The article suggests that a majority of Londoners who do not attend the carnival are covering costs for those who do, including an estimated 160,000 non-Londoners.