Research says Turner Contemporary has boosted economy by £13.8m
TURNER Contemporary has boosted the Kent economy by £13.8 million in its first year and is responsible for 130 jobs, according to research commissioned by the gallery.
Market analysis experts Morris, Hargreaves, McIntyre and consultants Five Lines say £6.2 million was generated by the gallery and its visitors with another £7.6 million made through media coverage.
International interest has highlighted the art centre and the Isle with articles appearing in the Wall Street Journal, New York Times, The Australian and outlets across Europe.
The report reveals that Turner Contemporary has been visited by 495,000 people, more than treble the number predicted.
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Turner Contemporary director Victoria Pomery said: "This report highlights the positive impact these visitors have had on the local economy.
"There is a real, tangible change in the area of Margate around the gallery, with more than 35 new businesses opening in the Old Town and Lower High Street. Shops have reported doubling of takings and estate agents a surge in people looking to buy property in the town.
"Research shows that the tourism income generated by Turner Contemporary visitors is supporting 79 jobs in the Kent economy alongside the 49 jobs in the gallery itself."
The report says 20 per cent of visitors have come from the Isle with 78 per cent coming from across the UK and two per cent travelling from overseas.