Museums as an economic engine: worth billions for our region!

Museums as an economic engine: worth billions for our region!

When you think of museums, the exhibits, history, and education often come to mind. But how much they contribute to the economy is often overlooked. A new study by the Institute for Museum Research impressively shows that museums not only preserve cultural treasures, but also act as real economic engines. According to that Weekly Courier Around 7,000 museums in Germany will generate a whopping 9.4 billion euros in added value in 2023.

The focus of the study is on shedding light on the economic footprint of museums. Museums turn out to be important location factors that not only promote education and tourism, but also contribute to regional development. Public investments in museums amount to around 5.6 billion euros, which results in an average return of 1.70 euros per euro invested. It is clear that these numbers speak for themselves: museums are real money machines for the general public.

Economic importance of museums

The study, which was developed in collaboration with the ICG Integrated Consulting Group, records the direct, indirect and induced effects on value creation, income, purchasing power and employment in the museum industry. These results are of interest not only to decision-makers in politics and business, but also to the general public who are interested in the role of museums in their region.

The impact on tourism is particularly exciting. The museums generate additional income from visitors, who bring a total of 2.40 euros in added value per euro invested for overnight stays, services and mobility. This underlines that museums are not only quiet places of education, but also lively centers of economic exchange, as can be seen in the SMB Museum can read.

An example: The ZCOM Zuse Computer Museum

A concrete example of the economic effects of museums is the ZCOM Zuse Computer Museum in Hoyerswerda. Museum director Peg Koedel emphasizes how important it is to work with local companies and associations. These initiatives promote regional identity and contribute to the development of technical skills among young people. The Zuse Camp, a STEM holiday program, is just one of the many formats the museum offers to promote creative and technical understanding.

Another important detail is job creation. In total, 106,000 permanent jobs were created through museum work, with almost two thirds of these created in the museums themselves. The rest goes to suppliers, service providers as well as shops and restaurants in the area. According to the study by City Day These jobs contribute significantly to the purchasing power of the region and thus strengthen the entire economic structure.

In conclusion, it should be noted that museums provide an invaluable value to society that goes beyond the mere ideal contribution. They are economic actors who are heavily involved in the education sector as well as in tourism and on the labor market. For sustainable economic success, we must continue to recognize and strengthen their role as cultural and economic pillars.