Understanding the value of engagement in culture and sport: technical report
Culture produces a wide range of values to society - in this report two key ones are address, tackling fundamental issues about how we value the core benefits of culture.
The first approach involves estimating the economic value of subjective well-being gains associated with engagement. In a ground-breaking analysis, the research establishes a statistically significant relationship between sports and arts engagement and increased subjective well-being. The analysis allows for comparisons with other domains, such as health and employment to understand the scale of these associated gains. Then the latest economic approaches for valuing these gains are applied and explored.
The second approach involves the valuing of health gains associated with sport by using agreed statistical analysis for estimating the health costs saved by doing sport. The approach is a model for applying this kind of analysis to other domains where culture and sport have impacts such as mental health and education.