Metropolitan Museum’s Exhibitions Stimulate $908 Million Economic Impact for New York
The Metropolitan Museum’s concurrent presentation of four acclaimed and widely attended exhibitions in the summer 2011 season generated $908 million in spending by regional, national, and international tourists to New York, according to a visitor survey the Museum released on September 12. Using the industry standard for calculating tax revenue impact, the study found that the direct tax benefit to the City and State from out-of-town visitors to the Museum totaled some $90.8 million.
The survey found that 68% of the visitors traveled from outside the five boroughs of New York. Of these, 20% were from the Tri-State area, 38% were from other states, and 42% were international visitors. Eighty-two percent of travelers reported staying overnight in the City; of these, 72% stayed in a hotel or motel. The median length of stay in the City was 5 days.
These visitors reported spending an average $927 per person ($599 for lodging, dining, sightseeing, entertainment, admission to museums, and local transportation and another $328 for shopping) during their stay in New York.
Fifty-two percent of travelers cited visiting the Met as a key motivating factor in visiting New York. Of travelers, 45% made their first visit to the Museum, and another 23% made their first visit in several years.