Transformations in
Business & Economics
- © Vilnius University, 2002-2010
- © Brno University of Technology, 2002-2010
- © University of Latvia, 2002-2010
Article
A Guggenheim-Hermitage Museum as an Economic Engine? Some Preliminary Ingredients for its Effectiveness
Beatriz Plaza, Silke N Haarich
ABSTRACT. Central and Eastern European countries are now looking for ways to re-position their cities through city marketing investments, and the Lithuanian capital city of Vilnius is not an exception in this regard. After building new stadiums, shopping malls and multifunctional urban complexes, as well as being nominated European Capital of Culture 2009, Vilnius is now planning a Guggenheim-Hermitage Museum to fuel its cultural tourism and put the city on the global map. These undertakings are expensive and have a very high operative risk. The aim of this article is to shed light on the different factors and conditions which determine the degree of success or failure of global art museums used as urban economic re-activators, taking the case of Bilbao as an example.
KEYWORDS: cultural policy, city marketing, museums as economic engines, urban regeneration, Vilnius.
JEL classification: R58, M31, Z1, O18, P2.