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The Economic Impact of The Louvre

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  • Xavier Greffe

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

The economic importance of cultural activities for economic development is frequently emphasized. This is the case for the Louvre, often considered as the world's leading museum: more than eight and half million visitors, exceptional collections, and unrivaled location at the heart of Paris. Considering the "average option," it can be said that its impact is very favorable: a gross value of €938 million, a net tax gain of €39 million, and between 12,738 and 18,090 jobs created. But another important lesson may be drawn: the Louvre does not fully benefit yet from its intellectual property rights, due to a management that has been very shy in the past, but that can be very promising for the future.

Suggested Citation

  • Xavier Greffe, 2011. "The Economic Impact of The Louvre," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00668930, HAL.
    • Handle: RePEc:hal:cesptp:hal-00668930
    DOI: 10.1080/10632921.2011.573323
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    Cited by:

    1. Attanasi, Giuseppe & Casoria, Fortuna & Centorrino, Samuele & Urso, Giulia, 2013. "Cultural investment, local development and instantaneous social capital: A case study of a gathering festival in the South of Italy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 47(C), pages 228-247.

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