Yesterday the Bureau of Economic Analysis, which is an agency of the Commerce Department, released a study that quantifies the economic impact of arts and culture on the Gross National Product. Of course, we all knew that art is good for the economy. Just ask Rick DeVos, or anyone who lives in Grand Rapids, MI. Here is the article:
Connie maybe you could grab this and put it front and center for all show directors to see.
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I took a good look at this. To me the two most important statistics were that the contribution of art and culture to the GDP 1) dropped from a steady 3.7% in the years up to 2004, to 3.2% and that 2) people who were employed in the field dropped steadily since 2004. That seemed to reflect what has happened in art fairs. How did shows respond? They responded by doubling show fees and expenses when they should have been lowering show fees to reflect the economic conditions. Certainly most cities and towns already knew art fairs were good for business because the amount of shows doubled and quadrupled in that same time. I think everyone who reads this should send the report to their favorite shows and ask them why they doubled fees in the past 10 years, when they should have at least held the costs steady.
This is the kind of information we need to have and share with decision makers everywhere. I have an extensive list of show directors and I'll be including this link in my next email to them. Why? It is good ammunition for them to use to encourage sponsors, city officials and the press to make their shows stronger. Did you know that an art museum brings in more $$ to a city than a ball park?
Geri, you would be in heaven at this show! More later.
Barry, Pretty interesting that the contribution of art to the GDP is higher then travel & tourism. Thanks for the interesting read.
Barry, Connie is at One of a Kind this weekend. FYI