ASKING QUESTIONS ON A RAISED PLATFORM
The Espla...
Saturday, October 19, 2002
TRICKLE ECONOMICS
The Singapore Tourism Board commissioned the Applied Research Corporation of Nanyang Technological University to study the impact of arts and entertainment industry on the Singapore economy. The study concluded that the follow-through economic benefits of arts and cultural activities was moderately substantial. By 2002, it was estimated that the multiplier effect of the arts is 2.8. For every dollar spent directly on the arts, there is an additional $1.8 in income generated elsewhere in a related industry - travel and transport, hospitality, food and beverage, merchandising and et cetera.
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