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Three Metropolitan Museum Exhibitions Stimulate $742 Million 2013 Economic Impact for New York

(New York, October 7, 2013) – The Metropolitan Museum of Art's presentation of three special exhibitions during the spring/summer 2013 season—Impressionism, Fashion, and Modernity; Punk: Chaos to Couture; and The Roof Garden Commission: Imran Qureshi—generated an estimated $742 million in spending by regional, national, and international tourists to New York, according to a visitor survey released by the Museum today. 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 $74.2 million. (Study findings below.) The full-year estimate of visitor spending in New York by out-of-town visitors to the Museum in fiscal year 2013 is $5.4 billion.

Thomas P. Campbell, Director and CEO of the Metropolitan Museum, noted: “It is particularly gratifying to see that visitors from around the globe continue to respond enthusiastically to the Met’s diverse exhibitions and renowned permanent collection. A visit to the Met was cited repeatedly—by more than half of the out-of-town visitors in our survey—as a key reason for deciding to travel to New York.”

Emily K. Rafferty, President of the Metropolitan Museum—who also serves as chair of NYC & Company, the city’s official tourism agency—stated: “Tourism—both domestic and international—is vital to New York’s economic health. The Metropolitan Museum is the most-visited cultural attraction in the City. We are proud of this strong record of attracting visitors from beyond the five boroughs, and of the Met’s clear impact on the economy.”
 
In the spring/summer 2013 survey period, Impressionism, Fashion, and Modernity, on view from February 26 to May 27, 2013, drew 440,973 visitors. Attendance for Punk: Chaos to Couture was 442,350 during its run from May 9 to August 14. And The Roof Garden Commission: Imran Qureshi  attracted 259,858 visitors from May 14 through August 31, 2013, when this survey was completed.

The survey found that 1.7 million or 77% of the Museum’s visitors traveled from outside the five boroughs of New York. Of these travelers, 21% were from the Tri-State area, 31% were from other states, and 48% were international visitors. Seventy-eight percent of travelers reported staying overnight in the City and, of these, three-quarters stayed in a hotel, hostel, or rented apartment. The average length of stay was 6.6 days. These out-of-town visitors reported spending an average of $1,139 per person ($773 for lodging, sightseeing, entertainment, admission to museums, and local transportation, and another $366 for shopping). Overall spending per person was 3% lower than in 2012, primarily due to a decline in shopping. The amount reported for lodging and other expenses is virtually unchanged from 2012.

Fifty-four percent of travelers cited visiting the Met as a key motivating factor in visiting New York. Using a scale of one to ten, 26% of visitors responded with a rating of 8 or above when asked how important seeing one of the three exhibitions was in motivating them to visit New York, and 54% gave a rating of 8 or above with regard to the Met in general. The primary purpose of traveling to New York was pleasure for 84% of visitors, business for 4%, and combined business and pleasure for 12%.

The latest economic impact survey was conducted by the Museum’s Office of Market Research/Marketing & External Relations Department.

Impressionism, Fashion, and Modernity considered the role of fashion in the works of the Impressionists and their contemporaries.

The exhibition was made possible in part by The Philip and Janice Levin Foundation,
the Janice H. Levin Fund, and the William Randolph Hearst Foundation.
Additional support was provided by Renée Belfer.
The exhibition was supported by an indemnity from the Federal Council on the Arts
and the Humanities.
The exhibition was organized by The Metropolitan Museum of Art, New York,
the Art Institute of Chicago, and the Musée d’Orsay, Paris.

Punk: Chaos to Couture examined punk’s impact on high fashion from the movement’s birth in the 1970s through its continuing influence today.

The exhibition was made possible by Moda Operandi.
Additional support was provided by Condé Nast.

The Roof Garden Commission: Imran Qureshi presents the first large-scale installation in the United States by the contemporary artist Imran Qureshi.

The exhibition is made possible by Bloomberg.
Additional support is provided by Cynthia Hazen Polsky and Leon B. Polsky.

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October 7, 2013



Results of Visitor Survey

Exhibitions:

Impressionism, Fashion, and Modernity
February 26–May 27, 2013
Total Visitors: 440,973
Average/Day: 5,128

Punk: Chaos to Couture
May 9–August 14, 2013
Total Visitors: 442,350
Average/Day: 4,706

The Roof Garden Commission: Imran Qureshi
May 14–November 3, 2013
Total Visitors through August 31: 259,858
Average/Day: 2,625

The number of visitors surveyed was 1,076. Fifty-one percent of visitors surveyed planned to see at least one of the three exhibitions in this study.

The Metropolitan Museum of Art—the most visited cultural attraction in New York City—welcomed 6.2 million visitors in Fiscal Year 2013 (July 1, 2012–June 30, 2013).

Survey Results: Visitor Demographics

Of the Museum’s 2.3 million visitors from May through August (the time frame of this study), 77% came from outside the five boroughs of New York City. Approximately half of those out-of-town visitors were domestic and the other half international tourists. International visitors on average spend more and stay longer than domestic visitors.

Visitor Spending

The total estimated visitor spending in NYC by out-of-town visitors to the Museum’s spring/summer exhibitions is $742 million. Using the standard estimated 10% tax rate (combining sales and hotel taxes), the tax benefit for New York City and State would be roughly $74.2 million.

Fifty-four percent of the out-of-town visitors reported that visiting the Met was a key motivating factor in their decision to visit New York. 26% of the out-of-town visitors said that seeing one of the three exhibitions (Impressionism, Fashion, and Modernity; Punk: Chaos to Couture; and The Roof Garden Commission: Imran Qureshi) was an important motivating factor in visiting New York. Using a scale of 1 (not at all important) to 10 (very important), 26% of visitors gave a rating of 8 or above in regard to the exhibitions, and 54% gave a rating of 8 or above to visiting the Museum in general.

The estimated visitor spending is $401 million for just the portion of visitors who reported their visit was highly motivated by a trip to the Museum, and $193 million for the portion of visitors who reported that the exhibitions were a key motivation for their trip, yielding an estimated tax benefit of $40.1 million, and $19.3 million, respectively.

Visitors from out-of-town reported spending on average $1,139 per person during their stay in New York City: $773 for expenses and $366 for shopping. The overall spending per person declined by 3% compared to last year’s study, which was primarily due to a decline in the amount spent on shopping. Expenses included hotel, dining, entertainment, and local transportation but excluded transportation to the City.

Seventy-eight percent of the out-of-town visitors stayed overnight in the City and, of these, three-quarters stayed in a hotel, hostel, or rented apartment. The average length of stay was 6.6 days.

Museum visitors are active participants in other cultural activities. During their visit to New York, 73% visited other museums, 47% saw a Broadway show, and 19% attended an opera, ballet, or concert. These results are similar to last year’s results and indicate that visitors continue a wide participation in multiple cultural activities while in New York.

In terms of other leisure activities, 65% of visitors shopped while in New York and 70% dined at a restaurant. Again, the level of these activities is similar to what was seen in last year’s study.

Full-year Estimate of Visitor Spending

The full-year estimate of visitor spending in New York, by out-of-town visitors to the Museum in Fiscal Year 2013, is $5.4 billion. During that year, The Metropolitan Museum of Art welcomed 6.2 million visitors, 24% of them from NYC, and 76% (or 4.72 million) from outside the five boroughs.

For those whose visit to New York was highly motivated by a trip to the Museum, the estimated annual impact is $2.9 billion, with a tax impact of $290 million.

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