The Economic Power of American Arts and Culture

But culture and the arts also fuel the economy directly: The arts contribute more than $800 billion a year to U.S. economic output, amounting to more than 4 percent of GDP. That figure is based on detailed data from the U.S. Bureau of Economic Analysis (part of the Department of Commerce) and the National Endowment for the Arts, summarized in a report released earlier this month.The report tracks the aggregate performance of 35 key arts-and-culture fields, including broadcasting, movies, streaming, publishing, the performing arts, arts-related retail, and more. The contribution of the arts to America’s economy is equivalent to nearly half of Canada’s total GDP, and bigger than the economic output of Sweden or Switzerland.

Source: www.citylab.com