The Bilbao effect (Guggenheim Museum Bilbao)
Beatriz Plaza ()
MPRA Paper from University Library of Munich, Germany
When a decaying industrial city in Spain’s Basque country decided in the 1990s to spend $228.3 million on a modern art museum, critics objected to squandering so much public money on something so irrelevant and exclusive. This year is the Guggenheim Museum Bilbao’s (GMB) tenth anniversary, sufficient time since its opening to evaluate the museum’s effectiveness in reactivating the city’s economy. So, have the public authorities that invested in the Guggenheim recovered their costly investment?
Keywords: Guggenheim Museum Bilbao; economic valuation (search for similar items in EconPapers)
JEL-codes: Z11 (search for similar items in EconPapers)
Date: 2007-07-31, Revised 2007-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:12681
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