Economic value of the arts

With recent renewed interest in economic valuation and the arts, I recently ‘dusted off’ an old report which used an innovative approach – with the possibility of applying a similar approach at a regional level:

“This report presents an Economic Impact Assessment of the arts in the Rotorua and Taupo districts. Its purpose is to help raise awareness of the economic value of arts and culture including estimates of employment, income, expenditure and social capital. Each of these facets of economic activity is described and measured in relation to creative industries; arts events; Māori arts and culture; and public artworks and arts initiatives…. Overall this report estimates that the economic benefit of arts and culture in the Rotorua and Taupo area is between $40 million and $70 million per annum, depending how ‘arts and culture’ is defined.”
Killerby, P. (2007) “Economic impacts of the arts in Rotorua and Taupo”, prepared by APR Consultants Ltd for Rotorua and Taupo district councils, November 2007.