A look at Nevada's new DATA from AFTA Arts Economic Impact Study (AEP6)
The second Las Vegas Arts and Culture Summit will be held 2/29/2024 in DTLV.
The wait is over after 8 years of yearning for new Creative Economy DATA for Southern Nevada Arts, the work was worth it. The national Arts and Economic Prosperity (AEP6) study; a survey every five years measuring the value added by nonprofit arts to our GDP revealed an eye-popping $156,253,527 in total tax revenue in Nevada.
For the first time ever, Las Vegas and Clark County have specific DATA on the impact of the nonprofit arts sector on our creative economy and beyond. The state of Nevada allocated a mere $1.9 million in the 2021-2022 budget to the Nevada Arts Council to support nonprofit organizations, education, and community development programs. These DATA show that the money was well spent!
Audiences across Nevada were asked questions about spending & travel habits and why they love local arts.
The AEP6 Study's national figures show the average amount an attendee invests when attending a nonprofit culture event beyond an entrance fee is $38; Las Vegas audiences spend 25% more at around $47 per person. What would happen if we did more to leverage the power of local arts for greater returns with more strategy and support?
According to the LVCVA's "Visitor Profile"Â individuals in 2022 spent four times as much as they did in 2021 on shows and entertainment. While attendance for Arts is down post-COVID, Southern Nevada is poised to outpace other regions' ROI on the events it chooses to promote for cultural tourism. The AEP6 figures indicate that the LVCVA and other decision makers leave money on the table when they fail to promote off-Strip events presented by the cultural community.
Tourists don't just come to Las Vegas for Sports and commercial Strip entertainment; according to the AEP6 study, local arts inspire visitors to part with their cash at over 75% above the national average of $60, spending roughly $107 per person above the ticket price.
Both national and Southern Nevada audiences agree that the Arts are more than quality entertainment, they add meaning, civic pride, and a thriving sense of community to our lives.
Is it time for an Office of Creative Industry? Our analysis says "YES." Arts mean jobs, a fact recognized in the Nevada Governor's Office of Economic Development in their February 2023 5-year strategic plan naming the Creative industries as a critical part of the state's diversifying economy. We hope that GOED's new Office of Entrepreneurship will help locals in our Creative Economy to not only grow their businesses, but help stakeholders including educators, legislators, and innovators across Nevada to BET ON ARTS and embrace our creativity for a Renaissance of prosperity. We look forward to more future thinking at the City of Las Vegas Arts Summit later this month! #EatMoreArt
