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Wiley InterScience | |||||||||||||
  International Journal of Urban and Regional ResearchVolume 30 Issue 2, Pages 452 - 467 Published Online: 4 Jul 2006 Journal Compilation © 2009 Joint Editors and Blackwell Publishing Ltd
Abstract | References | Full Text: HTML, PDF (Size: 204K) | Related Articles | Citation Tracking  The Return on Investment of the Guggenheim Museum Bilbao The University of the Basque Country (Bilbao), 1/UPV 00032.321-H-13918/2001, provided financial support for this project. I am grateful to M.J. Grandes (less Business School, Madrid), Chris Pickvance (University of Kent), Bryan Massam (York University), Michael Hebbert (University of Manchester), Moira Stevenson (Deputy Director, Manchester City Galleries), Roberto Velasco (University of the Basque Country), Rocio Davis (University of Navarre) and Barbara Littlewood who kindly read an early draft of the article. I am also grateful to Paz Moral (University of the Basque Country), Lina Peña (INE) and EUSTAT. They are not responsible for my interpretations. Copyright © 2006 The Author. Journal Compilation © 2006 Joint Editors and Blackwell Publishing Ltd ABSTRACTThe city of Bilbao has made use of a museum as one of the multiple means to restructure its former industrial base. However, the effectiveness of this costly formula is not always clear. Three major issues have arisen: the effects of Guggenheim Museum Bilbao on Bilbao's image, the effects on overnight stays, and the effects on the local economy. There is little debate about the first issue, and room for more evidence on the second and third issues. The aim is to quantify the museum's impact on tourism and employment and to calculate its yield (Return on Investment and Net Present Value). The approach adopted is the quantitative analysis of statistical data to try to isolate the economic contribution of the Guggenheim. | 
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