AEA Consulting’s 2023 Cultural Infrastructure Index
AEA Consulting’s 2023 Cultural Infrastructure Index
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GCDN is pleased to present AEA Consulting’s 2023 Cultural Infrastructure Index (CII), a measure of major investments in capital projects in the cultural sector with budgets of US$10 million or more, that were either announced or completed in 2023. Now in its eighth year, the CII provides a long-term view on trends in the field.
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Cultural Districts and Innovation: a Focus on the Global South
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This report, commissioned by the Global Cultural Districts Network (GCDN) and written by Tarek Virani, looks at “how cultural districts in the Global South are either innovating or creating the conditions to meet the needs of new and existing challenges”. As such, it provides a fresh perspective on what the challenges of our time might mean for cultural districts worldwide balancing the push and pull of globalisation and localism. Ultimately, our understanding of how innovation in cultural districts occurs in the Global South reinforces what we know about cultural districts generally – as much as this is a global phenomenon, the local context always determines the shape and impact of any effort.
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Capturing Value and Preserving Identity
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This report, commissioned by the Global Cultural Districts Network (GCDN) and written by Kiley Arroyo describes diverse tools that cultural districts can use to spur investment and create new revenue streams while protecting the local character and neighborhood identity. It is the first consolidated source of advice on finance mechanisms, public policies, and equity-centered practices — known as value-capture tools — that can be used to recover and reinvest increases in real estate value that benefit communities as well as property owners and developers.
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AEA Consulting’s 2016 Cultural Infrastructure Index
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The Cultural Infrastructure Index, undertaken for the Global Cultural Districts Network by AEA Consulting, seeks to measure investment in capital projects in the cultural sector, identifying projects with a budget of US$10 million or more that were publicly announced or completed within a calendar year. “Cultural infrastructure” comprises museums, performing arts centers, and cultural hubs or districts, and projects tracked include new buildings, renovations, and expansions.
This inaugural Cultural Infrastructure Index covers 2016. The collected data reveals some US$8.45 billion in new physical assets that came online last year (101 completed projects), and a further US$8.54 billion in investment announced across 135 new projects. Our analysis shows the median budget for announced projects (US$36 million) is lower than that for completed projects (US$41 million).
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AEA Consulting’s 2017 Cultural Infrastructure Index
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The Cultural Infrastructure Index, undertaken for the Global Cultural Districts Network by AEA Consulting, seeks to measure investment in capital projects in the cultural sector, identifying projects with a budget of US$10 million or more.
This year’s findings reveal an increase in both the number and value of completed projects over 2017, with a significant bump in the Middle East, reflecting the completion of the Louvre Abu Dhabi. North America continues to lead in the number of projects, followed by Europe and Asia.
While many believe the era of the “starchitect” may be ending, cultural infrastructure strategies are now firmly part of the public policy discourse in many countries. The private sector now appears to be driving a further wave of investment, expanding the definition of “culture” further into entertainment and experience.
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