National Cherry Blossom Festival mascot “Paddles the Beaver” surely wants tourists to leave lots of money behind this year. Photo by Joe Danielewicz

When the National Cherry Blossom Festival starts Saturday, the tourists who come to see the trees will leave behind an estimated $126 million in the D.C. metro region over the course of the event, according to a George Mason University study released Thursday.

The District itself hauls in about $82 million in direct receipts, with the remaining $44 million going to surrounding areas. Annually, tourism to the National Mall and memorial parks is believed to be a whopping $3 billion, with two-thirds of that staying in D.C.

The actual economic impact could be greater both during the festival and year-round. “These are extremely conservative, what we would say, very low estimates,” said George Mason Associate Professor Maggie Daniels. She believes indirect expenses, things like overtime pay to service industry employees, would raise the total visitors’ economic impact. Daniels suggests the District should do a cost-benefit analysis to get a complete financial picture of the Cherry Blossom Festival and tourism as a whole.

The National Park Service estimates approximately 1 million people will visit Hains Point and the Tidal Basin during the 16-day festival. “It’s Washington’s single largest reoccurring festival,” NPS spokesperson Bill Line said.

The 2010 National Cherry Blossom Festival runs March 27 – April 11.