On Tuesday, February 17, 2016, the National Endowment for the Arts and the U.S. Bureau of Economic Analysis released new estimates from their Arts and Cultural Production Satellite Account (ACPSA). These latest estimates report that arts and cultural production contributed $704.2 Billion to the U.S. Economy in 2013.
Launched in 2013, the goal of the ACPSA is to provide detailed statistics on the arts and cultural sector’s impact on the U.S. economy. The latest data cover 1998 to 2013 and are adjusted for inflation, resulting in more accurate trend analysis for the 15-year period.
The full dataset, issues briefs that analyze key findings, and links to other federal data resources can be found on the NEA’s website.
“Notably, the ACPSA reveals that Americans are choosing to spend more on performing arts events such as concerts, plays, and dance performances, said NEA Chairman Jane Chu in Tuesday’s NEA press release. “This tells us that the arts remain a valuable and desirable commodity for U.S. consumers, and that the arts are a strong contributor to America’s economic vitality.”
Other key findings are reported in the infographic below (couresty National Endowment for the Arts):