The Economics of Museums
Institute for Empirical Economic Research Working Paper No. 149
46 Pages Posted: 6 Jan 2004
Date Written: May 2003
Museums are more important than ever before. They play a substantial role in people's leisure activities and belong to one of the most important tourist attractions. Substantial amounts of money are spent when visiting museums both in terms of entry fees and expenditures in museum restaurants and shops. The visitors have a strong effect on local economies, especially in touristic locations. Not surprisingly, therefore, more and more museums are founded usually in spectacular new buildings.
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