Beyond storing old stuff: analysing the socio-economic value of museums

Abstract

Purpose– This paper aims to analyse the socio-economic role of museums.Design/methodology/approach– To explore the socio-economic role of museums, relevant literature on the role of museums was reviewed. Books and articles were consulted to shed light on museums as a cultural tourism product offering within the broader context of tourism as a catalyst of societal development.Findings– The literature review revealed that museums are symbols of unity and identity and can serve as a catalyst of economic development of local communities. The article dispels the perception that museums are places where old stuff is stored and that they are at the periphery of societal development.Research limitations/implications– The paper is based on literature review and not an empirical study.Practical implications– This paper proposes that museums should play a more active role in the socio-economic development of society.Social implications– This paper suggests that museums should educate the public about their role and place in society. Most importantly, they should create awareness about the socio-economic opportunities which they create. Thus, museums should position themselves as part of the societal effort to deal with societal challenges and not relegate themselves to the fringes of society. To this end, museums should establish partnerships with other agents of societal development. These organisations include chambers of commerce, educational institutions, government agencies and tourism organisations.Originality/value– The paper dispels the perception that museums are places where old stuff is stored and that they are at the periphery of societal development.