Beth Siegel, president and co-founder of Mt. Auburn Associates, was an advisor for the new Arts and Cultural Production Satellite Account (ACPSA) – the first federal effort to provide in-depth analysis of the arts and cultural sector’s contributions to GDP.
U.S. Bureau of Economic Analysis and National Endowment for the Arts Release Preliminary Report on Impact of Arts and Culture on U.S. Economy;
Arts and Cultural Production Account for 3.2 Percent — or $504 Billion — of Gross Domestic Product in 2011
For Immediate Release
December 5, 2013 Washington, DC – The U.S. Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA) released prototype estimates today from the new Arts and Cultural Production Satellite Account (ACPSA). This is the first federal effort to provide in-depth analysis of the arts and cultural sector’s contributions to current-dollar gross domestic product (GDP), a measure of the final dollar value of all goods and services produced in the United States. According to these new estimates, 3.2 percent — or $504 billion — of current-dollar GDP in 2011 was attributable to arts and culture. In comparison, BEA’s estimated value of the U.S. travel and tourism industry was 2.8 percent of GDP. – more