IDEAS home Printed from https://ideas.repec.org/a/bla/ijurrs/v30y2006i2p452-467.html
   My bibliography  Save this article

The Return on Investment of the Guggenheim Museum Bilbao

Author

Listed:
  • BEATRIZ PLAZA

Abstract

The city of Bilbao has made use of a museum as one of the multiple means to restructure its former industrial base. However, the effectiveness of this costly formula is not always clear. Three major issues have arisen: the effects of Guggenheim Museum Bilbao on Bilbao’s image, the effects on overnight stays, and the effects on the local economy. There is little debate about the first issue, and room for more evidence on the second and third issues. The aim is to quantify the museum’s impact on tourism and employment and to calculate its yield (Return on Investment and Net Present Value). The approach adopted is the quantitative analysis of statistical data to try to isolate the economic contribution of the Guggenheim.

Suggested Citation

  • Beatriz Plaza, 2006. "The Return on Investment of the Guggenheim Museum Bilbao," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 30(2), pages 452-467, June.
    • Handle: RePEc:bla:ijurrs:v:30:y:2006:i:2:p:452-467
    DOI: 10.1111/j.1468-2427.2006.00672.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1468-2427.2006.00672.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1468-2427.2006.00672.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Frey, Bruno S. & Meier, Stephan, 2006. "The Economics of Museums," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 29, pages 1017-1047, Elsevier.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Victor Martínez-de-Albéniz & Ana Valdivia, 2019. "Measuring and Exploiting the Impact of Exhibition Scheduling on Museum Attendance," Manufacturing & Service Operations Management, INFORMS, vol. 21(4), pages 761-779, October.
    2. Roberto Cellini & Tiziana Cuccia, 2013. "Museum and monument attendance and tourism flow: a time series analysis approach," Applied Economics, Taylor & Francis Journals, vol. 45(24), pages 3473-3482, August.
    3. Bruno S. Frey & Alois Stutzer, 2006. "Environmental Morale and Motivation," CREMA Working Paper Series 2006-17, Center for Research in Economics, Management and the Arts (CREMA).
    4. A. E. Scorcu & R. Zanola, 2011. "Survival in the Cultural Market: The Case of Temporary Exhibitions," Working Paper series 36_11, Rimini Centre for Economic Analysis.
    5. Maria Rosaria Alfano & Anna Laura Baraldi & Claudia Cantabene, 2023. "Eppur si muove: an evaluation of museum policy reform in Italy," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 47(1), pages 97-131, March.
    6. Bruno S. Frey & Alois Stutzer, "undated". "Direct Democracy: Designing a Living Constitution," IEW - Working Papers 167, Institute for Empirical Research in Economics - University of Zurich.
    7. JG. Brida & M. Pulina & E. Riaño, 2010. "Visitors' experience in a modern art museum: a structural equation model," Working Paper CRENoS 201026, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    8. Bruno S. Frey & Lasse Steiner, 2010. "Pay as you go: a new proposal for museum pricing," IEW - Working Papers 485, Institute for Empirical Research in Economics - University of Zurich.
    9. Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2007. "Calculating Tragedy: Assessing The Costs Of Terrorism," Journal of Economic Surveys, Wiley Blackwell, vol. 21(1), pages 1-24, February.
    10. Franz Hackl & Martin Halla & Gerald J. Pruckner, 2007. "Volunteering and Income – The Fallacy of the Good Samaritan?," Kyklos, Wiley Blackwell, vol. 60(1), pages 77-104, February.
    11. Aleksander Berentsen & Esther Br�gger & Simon L�rtscher, "undated". "On Cheating and Whistle-Blowing," IEW - Working Papers 153, Institute for Empirical Research in Economics - University of Zurich.
    12. Asuaga, Carolina, 2006. "Los museos. Desde la economía a la Teoría General del Costo [The museums. From economics to the General Cost Theory]," MPRA Paper 105379, University Library of Munich, Germany, revised 2006.
    13. Aleksandra Wiśniewska & Wiktor Budziński & Mikołaj Czajkowski, 2018. "Publicly funded cultural institutions – a comparative economic valuation study," Working Papers 2018-22, Faculty of Economic Sciences, University of Warsaw.
    14. Carmen Camarero & Mª Garrido & Eva Vicente, 2011. "How cultural organizations’ size and funding influence innovation and performance: the case of museums," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 35(4), pages 247-266, November.
    15. Sulser, Pascal A., 2021. "Pay-per-minute pricing: A field experiment comparing traditional and participative pricing mechanisms," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 92(C).
    16. Harold E. Cuffe, 2018. "Rain and museum attendance: Are daily data fine enough?," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 42(2), pages 213-241, May.
    17. Juan Prieto-Rodríguez & Víctor Fernández-Blanco, 2006. "Optimal pricing and grant policies for museums," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 30(3), pages 169-181, December.
    18. Chiara Dalle Nogare & Raffaele Scuderi & Enrico Bertacchini, 2021. "Immigrants, voter sentiment, and local public goods: The case of museums," Journal of Regional Science, Wiley Blackwell, vol. 61(5), pages 1087-1112, November.
    19. Torre, Andrew & Scarborough, Helen, 2017. "Reconsidering the estimation of the economic impact of cultural tourism," Tourism Management, Elsevier, vol. 59(C), pages 621-629.
    20. Silvia Fedeli & Michele Santoni, 2006. "The Government's Choice of Bureaucratic Organisation: An Application to Italian State Museums," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 30(1), pages 41-72, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ijurrs:v:30:y:2006:i:2:p:452-467. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0309-1317 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.