ECONOMIC ENGINES
American Fine Art Magazine|September/October 2024
The following is excerpted from "Museums as Economic Engines," conducted by the AAM & Oxford Economics in 2017 with post-pandemic data from the "2023 Annual National Snapshot of United States Museums," conducted by AAM and Wilkening Consulting For more information visit www.aam-us.org
ECONOMIC ENGINES

Museums play an essential role in cultural and social life across the United States by collecting. preserving, researching and interpreting objects, living specimens and historical records. In doing so, museums enrich our lives, providing forums for learning and support, as well as a variety of services to our communities. Museums preserve and protect more than a billion objects and help the public better understand and appreciate cultural diversity.

But beyond this cultural impact, the museum sector is also essential to the national economy-generating Gross Domestic Product, creating jobs and contributing taxes.

Demand for the kind of opportunities and engagement that the museum sector provides is widespread, and data about visits and exhibits is readily available. More than 850 million visits are made each year to American museums. In 2009, AAM completed a financial study of museums, but despite this, no comprehensive economic analysis [had] attempted to address the overarching impact of the museum sector on the U.S. economy, [and] we have lacked comprehensive economic data representing the diverse museum field.

To address this, in 2017, the American Alliance of Museums (AAM)... commissioned Oxford Economics to conduct research, analysis and impact modeling to clearly quantify the economic contribution of [this country's] museums...Explore findings from this study on museums' economic impact pre-pandemic, and a 2023 snapshot of the museum sector, on the following page..

Museums: Pre-Pandemic

Museums support over 726,000 American jobs.

Museums contribute $50 billion to the U.S. economy each year.

Seventy-six percent of all U.S. leisure travelers participate in cultural or heritage activities such as visiting museums. These travelers spend 60 percent more money on average than other leisure travelers.

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Urban Reflections - An exhibition showcases works by urban realist Everett Shinn and his contemporaries
American Fine Art Magazine

Urban Reflections - An exhibition showcases works by urban realist Everett Shinn and his contemporaries

An exhibition showcases works by urban realist Everett Shinn and his contemporaries. Ashcan painter Everett Shinn’s fascination with the stage was a focus throughout his career. His ability to capture movement and drama in theatrical and urban settings distinguishes his work.

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Beauty in the Commonplace - CW American Modernism explores the history of precisionism through an exhibition of 30 artworks.
American Fine Art Magazine

Beauty in the Commonplace - CW American Modernism explores the history of precisionism through an exhibition of 30 artworks.

CW American Modernism explores the history of precisionism through an exhibition of 30 artworks. Bringing together nine artists and 30 bodies of work, CW American Modernism, based in Los Angeles, presents the special exhibition, The Neo Immaculates. The title, coined by the gallery, encapsulates a unique style that’s clean and minimalistic, “with clearly defined lines and smooth—almost machinelike—surfaces,” describes gallery owner, Chris Walther.

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3 mins  |
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Norman Rockwell -  The most recently acquired piece, "Whig and Tory", executed in 1938 by the famous American painter and illustrator, Norman Rockwell, was hosted at the Norman Rockwell Museum
American Fine Art Magazine

Norman Rockwell - The most recently acquired piece, "Whig and Tory", executed in 1938 by the famous American painter and illustrator, Norman Rockwell, was hosted at the Norman Rockwell Museum

Recently hosted at the Norman Rockwell Museum, closing in June, was the exhibition Mystery and Wonder: Highlights from the Illustration Collection. Within the collection was the museum’s highlight, and the most recently acquired piece, Whig and Tory, executed in 1938 by the famous American painter and illustrator, Norman Rockwell (18941978). This oil on canvas illustration is quite significant in that it remained unpublished in any magazines the artist was known for working with—most famously The Saturday Evening Post.

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American Fine Art Magazine

Tracing History

The Arts and Crafts Conference returns for the 26\" year to enlighten and educate the masses on the Arts and Crafts movement

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American Fine Art Magazine

Top-Tier Offerings

The May 16 American Art sale at Freeman's | Hindman brought in a total of $773,494 with an 88 percent sell-through rate.

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A Healthy Market
American Fine Art Magazine

A Healthy Market

Freeman’s Hindman’s American Art and Pennsylvania Impressionists sale achieved 1.8 million in total sales

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American Fine Art Magazine

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American Fine Art Magazine

Historic and Contemporary

DuMouchelles brings works by Tiffany and Frank Stella under the umbrella of one sale

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American Fine Art Magazine

Wild Lands

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Poignant Pieces
American Fine Art Magazine

Poignant Pieces

Several watercolors by prominent American artists are among the highlights in Swann Auction Galleries’ American Art sale

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