SYDNEY, 10 September, 2024 The Australian Museum's (AM) recent blockbuster exhibition Ramses and the Gold of the Pharaohs – held in Sydney between November 2023 to May 2024 – is among the most successful museum exhibitions in NSW history, both in terms of visitors and economic impact, according to a report released today.
Prepared by Inform Economics, the report states that the exhibition attracted more than 508,000 visitors and contributed more than $57 million to the NSW economy. In addition, every $1 spent on delivering the Ramses exhibition returned benefits of more than $11 for the NSW community with a benefit-cost ratio (BCR) for the exhibition investment of 11.2.
Ms Kim McKay AO, Australian Museum Director and CEO, who secured the exhibition exclusively for Sydney, said the economic impact report identifies the value of the cultural economy for growth and vitality in NSW.
"We are very connected to our surrounding community, particularly small businesses, so it makes me proud that the success of the Australian Museum also supports the success of our local cafes, hotels, and restaurants, as well as the wider tourism industry, which has been doing it tough since the pandemic.
"It is rewarding to see how culture can contribute to the economic and community health of our city. Exhibitions of this scope and scale help create vibrant and inclusive cities, offering opportunities for intergenerational and inter-cultural connection, which has a lasting benefit," Ms McKay said.
The report also highlights that of the 500,000 plus visitors to the Ramses exhibition, 60,000 came from interstate and 10,000 came from overseas driving visitor nights spent in the city.
Mr Ron Tan, Executive Chairman & Group CEO, NEON Group, which partnered with the AM to bring the Ramses exhibition to Sydney, said the collaboration was a win-win for Sydney and NSW.
"Sydney was the fourth city in the world to host Ramses – after Houston, San Francisco, and Paris. It has been great to see its success not just in attendance but in overall economic impact and enjoyment by the community."
"This world-class exhibition ran in Sydney for 183 days and is now showing in Cologne, Germany, where it continues to have great success. The NEON Group looks forward to partnering again with the Australian Museum in the near future on another block buster exhibition," Mr Tan said.
Ms McKay also praised the team at the AM for delivering this extraordinary exhibition experience.
"Not only does this important economic analysis show us the economic gains, it also demonstrates the skills of the Australian Museum team in staging and promoting the exhibition. If we had not been successful in securing the Ramses exhibition for Sydney, and it had been hosted elsewhere in Australia, an estimated outflow of more than $6 million would have occurred from NSW visitors travelling out of the state," she said.
The Australian Museum is committed to supporting the NSW Government's Creative Communities Policy by delivering record-breaking international exhibitions, such as Ramses and the Gold of the Pharaohs, alongside homegrown exhibitions such as Sharks, and Jurassic World by Brickman.
The next major AM summer exhibition due to open in November, will be announced in the coming weeks.
Key Facts:
Estimated economic impact of the Ramses Exhibition
Total |
|
Direct economic impacts |
|
|
$25,057,000 |
|
$6,055,000 |
Total direct economic impacts of Ramses Exhibition |
$31,112,000 |
Indirect economic impacts of Ramses Exhibition |
$26,134,000 |
Total direct and indirect economic impacts of Ramses Exhibition |
$57,246,000 |
About us:
About the Australian Museum:
The Australian Museum (AM) was founded in 1827 and is the nation's first museum. It is internationally recognised as a natural science and culture institution focused on Australia and the Pacific. As custodian of more than 22 million objects and specimens, the AM is uniquely positioned to provide a greater understanding of the region through its scientific research, exhibitions, and public and education programs. Through the Australian Museum Research Institute (AMRI), the AM also plays a leading role in conserving Australia's biodiversity through understanding the environmental impacts of climate change, potential security threats and invasive species.
About Inform Economics
Inform Economics is an independent economics consultancy that delivers evidence-based economic and financial analysis to support clients in making informed decisions, assessing impact, demonstrating value, influencing outcomes, and securing funding.
