Friday, December 6, 2013

GDP Value Of The Arts Is About 3.2 Percent Of GDP

From The Wall Street Journal, Real Time Economics, "U.S. Arts Sector Is Bigger Than Tourism Industry" by Eric Morath:
Starving artists? Not quite. America’s arts and cultural sector is a half-trillion-dollar machine that’s larger than major industries such as travel and tourism, a new official estimate found.

GDP Value Of The Arts
Source:  The Wall Street Journal

The arts contributed $504 billion to U.S. economic output in 2011, or 3.2% of gross domestic product, the Commerce Department said Thursday. The report is the first time the government calculated the sector’s size.

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