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Economic Impact Assessment
This work is based on the Economic Impact Model produced by Association of Independent Museums to measure the amount of funding an organisation brings to its location through spend at the venue as well as parking, eating in restaurants etc. It covers the financial year 2018/19.
· Spend is determined by a national standard set by county.
· Total visits for 2018/19 was 63,770
· Adults and children have been assumed to make up 50% of visits each
· 50% of visits are local (with a 60 minute drive time) and 50% are day visitors to the town. We have assumed that no overnight visits are driven by the museum.
Spend in Maidstone
Due to local visitors 31,885 x £16.94 = £540,013
Due to day visitors 31,885 x £33.88 = £1,080,263