Home
Free Trial
Free TrialSign In
  • Sign In
  • What we do
    • Countries/Macro
      • Global Economic Model
      • Global Macro Service
      • Global Trade Flows
      • Global Scenarios
      • Country Economic Forecasts
      • US Forecasts
      • Africa Forecasts
      • Event-Driven Analysis
      • All services
    • Cities & Regions
      • Global
      • UK & Europe
      • Americas
      • Africa & Middle East
      • Asia-Pacific
    • Industries
      • Global Industry Service
      • Global Construction Service
    • CONSULTANCY
      • Economic Impact
      • Thought Leadership
      • Macro Consulting
      • Bespoke Forecasting
    • TRAVEL & TOURISM
      • Global Travel Service
      • Global City Travel
      • Air Passenger Forecasts
      • Webinars
      • Resources
      • Careers
      • Awards
    • Contact us to find out more about our forecasting services, models, & scenarios.

      Free trial
  • How we help

    Our economists and analysts help organisations make better decisions, set strategies, improve resiliency, establish policy, discover new opportunities, optimize operations and plan for growth. Find out how we can help you below or use our product recommendation tool to get started.

    • TRENDING TOPICS
      • Presidential election
      • Coronavirus
      • Coronavirus vaccine
      • Climate change
      • Cities
      • Our approach
      • How we help
      • Sectors we serve
      • Blog
  • About Us
  • My Oxford
  • Contact
  • Media
  • Sectors We Serve
  • My sector
    • How we help
      • Asset Management
      • B2C
      • Banking
      • Chemicals
      • Energy
      • Government
      • Infrastructure
      • Manufacturing
      • Mining
      • Real Estate
      • Technology
      • Travel and tourism

Value Study of Galleries, Libraries, Archives and Museums (GLAMs) in Canada

This study provides an assessment of the value of GLAMs using cost-benefit analysis (CBA) within an economic welfare framework. It takes a Total Economic Value (TEV) approach, which measures the economic benefits accruing not just to direct beneficiaries such as GLAMs visitors, but to “non-users”—people who value GLAMs’ existence even if they have not recently visited one.

Combining all value components, we were able to quantify as benefits, the total gross value of GLAMs to Canada is $11.7 billion a year (in 2019 prices). This estimated benefit was derived from annual costs (the operational expenditure needed to run GLAMs) of $3.0 billion. Dividing the $11.7 billion in benefits by the $3.0 billion of costs gives a benefit-cost ratio (BCR) of 3.9. This means that for every dollar invested in non-profit GLAMs, society gets nearly four dollars in return. GLAMs perform very favourably when compared to other major social investments, such as transportation infrastructure.

It is also useful to highlight the net benefits of GLAMs; some prefer this approach as it indicates how much better off society is in aggregate. We estimate that society gains $8.6 billion from GLAMs’ existence every year.

Read the report in English
Read the report in French

Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:

Andrew Tessler

Andrew Tessler

Associate Director

Email
Alice Gambarin

Alice Gambarin

Senior Economist

Email
Stephanie Lukins

Stephanie Lukins

Senior Economist

Email

Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.

To find out more about our capabilities, contact:

EMEA
Sam Moore
+44 (0)207 803 1415
Email

Americas
Hamilton Galloway
+1 (646) 503 3068
Email

Asia
Christie Tang
+852 3974 8841
Email

  • Oxford Economics
    • About us
    • Contact us
    • Media
    • Economists and analysts
    • Careers
  • Products and services
    • Subscription services
    • Economic impact
    • Thought leadership
  • Help and software
    • Help using our services
    • Software and downloads
    • Latest technology developments
  • Privacy and Legal
    • Privacy policy
    • Cookies
    • Data protection
    • Terms and conditions
    • Software Support and Training
  • Follow Us
    • LinkedIn
    • Twitter
    • Facebook
© Oxford Economics 2020 all rights reserved