Economic impact of a new museum on the local economy: 'The Gaudí Centre'

Identifier:  PC:4751

Handle: https://hdl.handle.net/20.500.11797/PC4751

Authors:  Arauzo Carod, Josep Maria; Llop Llop, Maria

Abstract:
In this paper 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 a Keynesian income multiplier model to evaluate the effects of this new cultural venue on local income. In our calculation of the economic impact we distinguish between two phases: the construction phase and the exploitation phase. Our results show the important income impact of this cultural investment on the local economy.