U.S. Bureau of Economic Analysis and National Endowment for the Arts Release Preliminary Report on Impact of Arts and Culture on U.S. Economy
Arts and Cultural Production Account for 3.2 Percent – or $504 Billion, of Gross Domestic Product in 2011.
NEA Public Affairs
Dec. 5, 2013
Washington, DC – The U.S. Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA) released prototype estimates today from the new Arts and Cultural Production Satellite Account (ACPSA). This is the first federal effort to provide in-depth analysis of the arts and cultural sector’s contributions to current-dollar gross domestic product (GDP), a measure of the final dollar value of all goods and services produced in the United States. According to these new estimates, 3.2 percent — or $504 billion — of current-dollar GDP in 2011 was attributable to arts and culture. In comparison, BEA’s estimated value of the U.S. travel and tourism industry was 2.8 percent of GDP.
“Art and culture is a significant part of the U.S. economy. Not just its contributions of ideas and creativity to the innovation economy, but also as an important part of the labor force and our country’s GDP,” said NEA Senior Deputy Chairman Joan Shigekawa. “The Arts and Cultural Production Satellite Account is an unprecedented resource for detailed, reliable data on the economic value associated with arts and cultural activity.”
The full preliminary report can be found online: http://arts.gov
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