Though it is simplistic, tourism folks often use a multiplier of seven to
calculate economic impact.  If a museum or other attraction "takes in" from
its visitors $200,000, and receives grants and gifts for another $800,000,
that equals $1 million and this "new" one million in the local economy
actually adds $7 million.  The multiplier is based on the fact that the
money circulates in the community from hand to hand.  If visitors are
staying overnight in the community, you can add $100 per person to the
$200,000, that hundred being spent in meals, lodging, services, shopping,
etc.  So if you have 20,000 visitors a year, all staying at least one night,
spending $10 each at your museum and an estimated $100 in the community,
that's actually $2,200,000 plus $800,000 in grants & gifts -- equaling $3
million times seven, or $21,000,000 total economic impact.

I am not into statistics, but this is how it works.  By the way, the $100
per person is a regional variable - lower in the Appalachians and higher in
New England, and certainly much higher west of the Rockies.  Your state's
tourism department should have data on the average daily expenditure per
tourist in Colorado.

Ross Weeks Jr.

----- Original Message -----
From: "Christopher Dill" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Wednesday, August 23, 2000 5:03 PM
Subject: Economic value


> Dear Listers:
>
> Does anyone have ready access to some statistical data about the economic
value of museums to their cities and communities?  I'm working on a
presentation to local government officials about museums in general, and
some facts and figures about how museums contribute to the local economy
would be most helpful - or a reference to where current data could be found.
>
> Thanks
>
> Chris Dill
>
> Chris Dill, Superintendent
> City of Greeley Museums
> 919 7th Street
> Greeley  CO  80631
> T:  (970)350-9217
> F:  (970)350-9570
> E: [log in to unmask]
> www.ci.greeley.co.us/Culture/museums.html
>
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