Arts and Culture, Economic Impact of

The economic impact of arts and culture can be measured in several ways. Under more immediate and overt provisions, the economic impact of arts and culture on a nation’s material well-being is measured by the annual incomes generated from arts and cultural events. The economic impact in monetary terms can be broken down into several categories. They include direct impact, which are profits made from arts and cultural events; indirect impact, which are revenues related to attending arts and cultural events, such as accommodations and gift shopping; and other impact in terms of incomes produced from employees working in the arts and cultural organizations. Since arts and culture as a cluster are forms and practices of aesthetics, artistic activities and cultural events influence national cultures ...