Economic impact of a new museum on the local economy: “the Gaudí Centre”

Abstract

In this article we analyse the economic impact of a new museum (the Gaudí Centre) on the local economy of Reus, a city in the province of Tarragona (southern Catalonia). We use the Keynesian income multiplier model to capture the direct and indirect effects of the cultural asset on the local income. Our results show that the museum has a considerable impact on the local economy and suggest that cultural investments can play an important role in generating income at a local level.

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Correspondence to Maria Llop.

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Llop, M., Arauzo-Carod, JM. Economic impact of a new museum on the local economy: “the Gaudí Centre”. Lett Spat Resour Sci 5, 17–23 (2012). https://doi.org/10.1007/s12076-011-0061-0

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Keywords

  • Economic impact
  • Keynesian income multiplier
  • Cultural investment
  • Museum

JEL Classification

  • E12
  • E23
  • R11