NEMO (Network of European Museum Organisations) (2016): Money Matters: The Economic Value of Museums. How are cultural institutions and activities being valued? Many different approaches, criterions and measurements - quantitative as well as qualitative - have evolved over the years. One of them being the economic value, which was the theme of NEMO's 2016 Annual Conference and is the focus of this publication. Museums are integrated into the economic world, but come with certain and unique specifics and layers. They are a part of the leisure society, have an impact on tourism and create work and wealth. Money Matters: The Economic Value of Museums stems from this standpoint and provides perspectives from the cultural and economic sector on value measurement, profitability, partnerships and cooperation, financial strategies and business models, and the various spill-over effects.

RICHES (2016): European Policy Brief. The Economic and Fiscal Dimension of Cultural Heritage: This policy brief focuses on the effects of two forms of government support: VAT regulation for Cultural heritage goods such as books and services and direct subsidies to cultural heritage organisations, e.g. in the digital sector. It presents the results and outcomes of the research that explores the relation between the characteristics of different European countries and the effects of government support in VAT rates for cultural heritage organisations, and it describes the actions that can be taken to stimulate a European society rich of and engaged with cultural heritage.

European Commission, Directorate-General Education and Culture (2016): Towards more efficient financial ecosystems: Innovative instruments to facilitate access to finance for the Cultural and Creative Sectors: The report addresses the challenges the Cultural and Creative Sector (CCS) faces on access to finance and discusses the reasoning behind it, a specific section focuses on the role of Intellectual Property Rights (IPR). The report looks at the innovative instruments which can facilitate access to finance for the CCS and introduces a typology of funding schemes available to CCS on the basis of previous EENC studies and shares European-wide examples for each presented model, e.g. grants, microfinance concepts, equity finance, debt finance, sponsoring, crowdfunding and risk mitigation schemes. Recommendations on how to apply and overcome bottlenecks of the different schemes are provided specifically for the CCS. The report highlights the economic value of CCS and the importance to emphasise their strengths, as well as for the financiers to adjust their requirements to the structure and the partially intangible value of CCS. It recommends different steps to improve financing for CCS, such as testing and implementing new financing models, supporting partnerships between different sectors and providing more data concerning the impact of CCS and particularly the role of IPR in and for CCS.

The European Parliamentary Research Service (EPRS) / Magdalena Pasikowska-Schnass (February 2016): Crowdsourcing and crowdfunding in the cultural and creative sectors: This briefing summarises some of the main aspects of crowdfunding and crowdsourcing in the cultural and creative sectors. The first part gives a general overview on crowdfunding and crowdsourcing with the main focus in the cultural and creative sectors and goes on to take a look at financial and legal issues. Several links offer access to further resources on different matters such as guidelines on how to perform a crowdfunding campaign, research organised by the European Commission and information on a pilot project on crowdfunding for the cultural and creative sectors.

NEMO (November 2015): Museums and Creative Industries: Mapping Cooperation: The toolkit sketches the basic reasoning behind cooperations of museums and creative industries from both sides. Furthermore specific examples from Latvian museums point out the benefits of these connections. In the second part of the publication the theoretical approach towards the mapping of cooperations is explained, including guidelines for interviews with representatives of museums and the museums themselves, helping to visualize the museum’s networks.

Cultural Base (Arturo Rodríguez Morató, Matías I. Zarlenga and Martín Zamorano, CECUPS, Universitat de Barcelona) (2 October 2015): How Does Cultural Diversity Contribute to Cultural Creativity in Europe: The paper examines what academic literature has contributed so far to the clarification of the relationship between cultural diversity and creativity in Europe. The first part identifies studies addressing the issue of diversity and cultural encounters as a specific cultural phenomenon linked to processes of hybridization in different areas of cultural creation. In the second part academic and non-academic literature addressing the issue of diversity and cultural creativity in two specific territorial frameworks: the city and Europe is discussed. The comparison of the two areas reveals that there are some major gaps between the theoretically inspired knowledge and the more practically and politically connected knowledge opening some unexplored potential for research on the subject.

Tom Fleming (2015): Cultural and Creative Spillovers in Europe: Report on a preliminary evidence review (full report): Following the European Commission's decision to put spillover effects of the arts, culture and creative industries on the political agenda, a European partnership evolved. Through the research the group wanted to demonstrate the value of public funding for the arts and culture and map and capture spillover effects to develop a methodology for this kind of research.
The report gives an introduction to the topic with a focus on its role in arts, culture and creative industires. It then goes on to present a typology of spillover effects and examines the collected evidence. The summary of the analysis results in a couple of conclusions and recommendations to help the scientific, cultural and political debate around evidencing the value of culture and public investment into the arts, culture and creative industries.

The study "Measuring cultural and creative markets in the EU" summarises and builds upon available information on the economic scale of the cultural and creative sectors at both national and European levels. It includes comparative, qualitative and quantitative analyses aimed at understanding the economic role of the creative and cultural sectors in Europe. Conclusions on the key factors that will affect the global evolution of creative and cultural sectors and players are drawn from the outcomes and ways by which creative and cultural activities can help encourage growth, youth employment and innovation and strengthen Europe’s position globally are presented.

General Mapping of types of impact research in the performing arts sector

In the 2015 publication "General Mapping of types of impact research in the performing arts sector" IETM has collected existing state-of-the-art models to measure the impacts of the performing arts and presents them in a comprehensive way. Questions answered are: How can the impact arts have on society be measured and translated into numbers? And which models are currently used in evaluating art works?
Eventhough this is aimed at the performing arts it can also be useful for the cultural and creative sector in general when it comes to the challenge of measuring impact on individual well-being, community development and social cohesion.

A Pilot Examination and test phase of the methodology to map cooperation and synergy of creative industries in the museum field was developed by NEMO's Working Group Museums and Creative Industries. Most studies in the field concentrate on the impact creative industries have on the economy. But one of the important key words in the development of creative industries is "synergy" – cooperation is considered as one of the most important determinants for the development of creative industries. This study, published in 2015, aims to perform an in-depth analysis of the mechanisms of cooperation and synergy to identify their impact at the micro and macro level, namely the extent to which cooperation and networking bring economic benefits to a particular company or institution, and to the industry or the national economy as a whole. The presented outcomes from Latvia shall serve as a base for further development and studies all over Europe.

Cultural Value of Museums

'Cultural Value. User value of Museums and galleries' (2014) is a report conducted by Carol Scott, Jocelyn Dodd and Richard Sandell. That is a review on the value of museums and galleries engagement for users and to critically interrogate the existing body of research.

Economic Impact of Museums

Economic Impact of Museums - (2014) The report published by the Finnish Museums Association examines the economic impact museums have upon their operational environment and finds that museums generate significant money flow to their respective regions.

EU Good Practice Report on the cultural and creative sectors' export and internalization support strategies

EU Good Practice Report on the cultural and creative sectors' export and internalization support strategies - (2014) By the Open Method of Coordination (OMC) Working Group of EU Member States' Experts on Cultural and Creative Sectors

Museum and Creative Industries Toolkit

Museum and Creative Industries Toolkit - (2014) Northern Ireland Museum Association. 

Economic Impact study of Serralves Foundation

Published on Feb. 2013 - This Impact Study illustrates the important role the Serralves Foundation plays in the cultural, as well as in the economic field and its impact on the Oporto city, on the Northern Region and on Portugal. The report quantifies the direct and the indirect impacts and the induced economic effects of the Foundation's activities; it also identifies and characterizes in detail the connections between the Foundation itself and its different stakeholders: visitors (residents and non residents), suppliers, entities from the education and cultural sector, corporations and other institutions. Through the study, the Foundation stands out as a creative and cultural entity, as a tourist attraction site, as an educational institution as well as a booster centre for creative industries and a proactive agent in the social and economic field which generates employment, consumption, income, tax revenues and other outputs.

ENCATC (2013): Responding to the crisis with culture: Towards new governance & business models for the cultural sector: An ENTACT Policy Debate Report on the impact of the economic crisis on the cultural sector. ENCATC is the European Network on Cultural Management and Cultural Policy Education.

LEM Report 3: Measuring Museum Impacts

LEM Report 3: Measuring Museum Impacts - (2013) Author: Alessandro Bollo, edited by Ann Nicholls, Manuela Pereira and Margherita Sani

The Social and Economic Value of Cultural Heritage

The Social and Economic Value of Cultural Heritage - (2013) An EENC Paper by:  Cornelia Dümcke and Mikhail Gnedovsky EENC Paper, July 2013.

More Than Worth It

More Than Worth It - (2011) Publication by the Netherlands Museums Association about the social significance of museums.

The Economic Impact of the Louvre

The Economic Impact of the Louvre is a research conducted by Xavier Greffe for the Centre d'Économie de la Sorbone in 2009. The research was made to outline the special impact of the Louvre on French economic life.

Resources: C.H.I.E.F - Cultural Heritage Innovation European Forum

A web based platform for European young researchers, artists and practitioners. The main goal is to promote the cooperation among science & technology, cultural heritage and cultural & creative industries. A forum to share interesting ideas, useful suggestions and participate in discussions.