NZ report on value of M&G sector to economy,
New Zealand’s museums and galleries are facing increased financial pressure and have been hit hard by the Covid-19 pandemic. Source: 1News. Click here to view video.
Report highlights value of at-risk museums and galleries, 1 News NZ, 19 December 2022
A new report has outlined the high economic value of New Zealand’s museums and galleries, a sector worried for its future as inflation rises and visitor revenue remains lower than pre-pandemic levels.
Collectively, the report finds the country’s museums and galleries hold around $5.6 billion in assets, and are visited over 17 million times a year.
They also provide nearly $25 million worth of education benefits.
Many of these institutions are at risk, operating with net deficits in the hundreds of thousands, and hope the report will help change current funding models.
“We’ve got a report here that really does demonstrate the significant impacts that museums have across the board,” said Otago Museum director Ian Griffin.
“It’s not just bums on seats – we have significant economic impact, social impact, and I honestly believe that this report shows that museums are actually necessary rather than nice.”