ADELAIDE.- The Art Gallery of South Australia has released an Economic Contribution Report detailing its total economic contribution to the state to be $19.8 million, generating $3 of economic activity for every $1 of funding received. The cultural, social and educational benefits of the Art Gallery are clear to the people of South Australia, but now with the completion of this report, it can be demonstrated that the institution offers the South Australian Government a significant return on its investment.
The report, undertaken by Deloitte Access Economics, was commissioned by The Balnaves Foundation with the aim of undertaking an independent assessment of the contribution of the Art Gallery of South Australia to the South Australian economy.
Neil Balnaves AO, Founder, The Balnaves Foundation says “Through commissioning this report we hoped to demonstrate that funding the arts, in particular the Art Gallery of South Australia, has far-reaching benefits for the economy. The Art Gallery is a significant contributor to the State culturally and socially and this independent report confirms that its economic impact is just as significant.”
The study, an analysis of data available from the 2010-2011 financial year, concluded that:
• The Art Gallery of South Australia (through both direct and indirect contribution) generated $19.8 million in the South Australian economy, which means that for every dollar contributed by the South Australian Government, over three dollars was fed back into the economy*
• The Art Gallery of South Australia (through both direct and indirect contribution) generated 191.4 full time equivalent positions in the South Australian economy*
Premier Jay Weatherill said the report underlined the contribution of arts events to the economy.
“These findings are timely – coinciding with the success of Adelaide’s festival season and the hugely popular Turner from the Tate exhibition,” Mr. Weatherill said.
“The exhibition is attracting significant audiences both from South Australia and further afield.”
