|Art Economic Impact Studies
Cities, states, and regional groups have often sponsored economic impact studies to help with lobbying campaigns for public funding of "the arts." These studies define the arts sector broadly, and are flawed from an economic point of view because the usually ignore t he private and for-profit economy, which arguably creates the vitality of the art sector (fine art, theater, music).
Research Studies on Economic Impact of the Arts (not maintained)
Examples of studies and data on economic impact:
Impact of the Museum of Fine Arts, Boston (pdf file)
Summary: Altogether, this study showed that the museum
is responsible for $369 million of additional spending by visitors to
the region. The study also compared the scale of the museum activities
and visitor attraction with that of local professional sports teams
and other major institutions and employers. Most importantly, the study
showed how capital investment in expansion of the museum would lead
to future payoffs in terms of jobs and income for residents of the region.
Impact of the Arts on New York
Summary: Major findings for New York City in fiscal
- The total economic impact of the arts on New York City
was $11.1 billion.
- Employment generated by the arts, both directly and
indirectly, in New York City totaled 130,466.
- Taxes returned to the City as a result of this activity
equaled $221 million.
The total economic impact for New York City
consists of these components:
- Nonprofit organizations generated a total impact of
- Commercial theater generated a total impact of $1 billion;
- Commercial art galleries and auction houses generated
a total impact of $823 million;
- Motion picture and television production generated
a total impact of $3.4 billion;
- Visitor spending generated a total impact of $2.5 billion;
- Capital spending by nonprofit institutions, commercial
art galleries and auction houses and commercial theater generated a
total impact of $170 million.
Impact of the Arts Sector in California (California Arts Council,
2004) | Press
Summary: The study shows that the nonprofit arts in
California are a vibrant economic engine that:
- adds some $5.4 billion to the state's economy
- supports more than 160,000 jobs
- generates nearly $300 million in state and local taxes
- ranks California as the nation's leader with more arts-related
businesses and more people employed in the creative industries than
in any other state
- are the equivalent of 10,000 small businesses
Impact of the Arts in the US: Report by Americans for the Arts on
the non-profit arts sector
Summary: Arts & Economic Prosperity: The Economic
Impact of Nonprofit Arts Organizations and Their Audiences, released
in 2002, reveals that America's nonprofit arts industry generates $134
billion in economic activity every year, including $24.4 billion in
federal, state, and local tax revenues. The $134 billion total includes
$53.2 billion in spending by arts organizations and $80.8 billion in
event-related spending by arts audiences.
Economic Data (Krusin & Company)
European Art Market in 2002
- Macroeconomic Facts for the Fine Art Market:
- The global art economy generated $23.5 billion (£
16.6 billion and €26.7 billion) of total sales in 2001.
- Europe and the United States accounted for about 92%
of the value that changed ownership globally during the year.
- In Europe, the art trade directly generated 73,500
jobs spread across 28,600 businesses. In the United States, 35,300 jobs
were directly generated by 8,800 businesses.
- Ancillary economic activity generated by the art economy
in Europe and the United States resulted in nearly $3 billion (£ 2.1
billion and € 3.4 billion) of further stimulus, including the indirect
creation of 80,000 more professional and service sector jobs.
Economic Studies of the Art Sector
Tyler Cowen and Alexander Tabarrok, "An
Economic Theory of Avant-Garde and Popular Art, or High and Low Culture,"
George Mason University, 2000.
Martin Irvine, 2004-2008