Armenia: The Arts & Culture Economy

Armenia in the Media

Successful Strategies for Promoting Arts & Culture

The arts produce a unique combination of social, cultural, and economic benefits, which cities across the Country could increasingly recognizing and encouraging. The arts and culture industry attracts innovative, vibrant new businesses in fields such as publishing, advertising, music, dance, design, and architecture, and creates jobs for artists who anchor local cultural production.

Arts and culture can also play a key role in urban revitalization and community renewal, as well as the development of cultural tourism opportunities and the enhancement of a city or state’s public image.The arts and culture sector also has a role to play in the development of innovation hubs, geographic clusters of capital and talent that can fuel economic growth and innovation in areas such as design, technology and manufacturing. 

Armenia would reveal a number of lessons about successful strategies for promoting arts and culture and using these investments as a broader tool for economic development:

  • Yerevan and the other cities could see positive economic outcomes from making the arts and culture sector central to their local “brand” and efforts to attract tourists.
  • Geographically clustering programs and organizations into arts districts can help magnify community engagement in arts events and cultural activities.
  • In addition to bringing in money for specific events and businesses, arts districts can fuel broader renewal and attract investment in urban neighborhoods.
  • Incentives such as dedicated, low-cost real estate for studios, residences, and arts-related businesses can help attract and retain artists and creative workers with high levels of human capital to contribute to the local economy.
  • The players could rely on a wide variety of funding sources to support arts and culture initiatives, including private donations, corporate sponsorships, ticket revenues, and government grants. A robust mix of public and private financing may offer the best path for promoting the arts as an economic development strategy.

In regard to the impact of arts and culture, our case studies as a whole suggest that development of the arts economy produces a relatively high rate of return, attracts outside spending from visitors and sponsors, and promotes a locality’s image.Our research indicates that Armenia is uniquely positioned to capitalize on the benefits that come from centralizing the arts and culture economy and connecting it with innovation hubs. The Country is characterized by a compact geography, huge heritage in close proximity, a proven record of artists with a wealth of creative energy.

The benefit of an “all-hands-on-deck” approach to confronting economic challenges and opportunities becomes readily apparent when considering the case of arts, culture, and design. Not traditionally present in the domain of economic development, this trio has many potential benefits for boosting the economy.

​Click here to read the full article.

Author: Alberto Cagliostro