The museum sector is essential to the national economy — generating GDP, stimulating jobs, and contributing taxes. These economic effects can be measured using a standard technique known as economic impact analysis. This kind of analysis measures not just the direct (operational) contribution of the museum sector but also the impact that is felt as its activities ripple out across the economy. This includes, for example, the impact generated as museums makes purchases from a wider supply chain, known as the indirect impact. It also measures the effects that are felt in the wider consumer economy as employees in museums and their supply chains spend their wages on things like meals in restaurants or going to the gym (known as the induced impact). Each of these economic channels can be quantified in terms of a contribution to GDP, jobs, and the amount of tax revenue that is generated for all levels of government.
Museums as Economic Engines
MORE RESOURCES:
The Cactus Hunters: Desire and Extinction in the Illicit Succulent Trade
Drawing on several years of ethnographic and participatory research among collectors, conservationists, law enforcement agents, plant smugglers, and botanists, current...
READ MORE Public Garden Magazine – Volume 39, No. 2
FOCAL POINTS: THE “FILOLI SUMMIT”: PUBLIC GARDENS ARE A NATURAL CHOICE FOR WORLD LEADERS In November 2023 Filoli hosted American...
READ MORE May 2024 BHS: Superior Projects Management is Built on Relationships, Planning, and Audits
Whether your garden or arboretum is working on complex conservatory or a new visitors center or is just undertaking a...
READ MORE Green Thumbs, Sharp Resumes: Elevating Your Career in Public Horticulture
Whether you’re aiming for a leadership role or starting your journey, you will gain invaluable insights that will help you...
READ MORE