Report Published on the Museum Sector's Economic Benefits on the US National Economy
News, Museum Management | 09.02.2018
A report from the American Alliance of Museums highlights the museum sector's many economic benefits.
The report Museums as Economic Engines: a national report, conducted in collaboration with Oxford Economics and the Andrew W. Mellon Foundation, finds that the museum sector brings several economic benefits to the national economy.
Apart from museums' cultural impact, the museum sector also generates GDP, stimulates jobs, and contributes to taxes. The economic effects were measured using economic impact analysis showing both the direct contribution of the museum sector as well as the impact that is felt as its activities ripple out across the economy. Striking numbers, from the US museum sector, are presented in the report:
- $50 billion GDP contribution in 2016.
- 726,200 jobs supported in 2016.
- $12 billion fiscal contribution in 2016
The full report can be found in the NEMO Reading Corner - Museums and the Creative Economy.