Essay About The Cost Of Museum

One of the most crucial issues the museums are facing today is the lack of funding which can have direct and indirect consequences on society, for example, lack of funding, increases in technology, and the difference between cost and revenue. Individuals and the education system can also be affected by declines in the great museum; cut off museum worker’s benefits also lots of the great museums are closed because of the funding issues and will not open until they have found new funding’s to support the museum operations.
One of the recent study shows that most of the museum operating expenses are going to the art-focused activities, that’s around 32% and another great part of expenses goes into the revenue-generating activities such as marketing and benefit events that will attract more visitors to the museum; also, the salaries of employees are another large portion of the museum’s expense. The study also shows that museums are making around $28,000 for loaning the objects to the institutions like college and other education institutes compares to the $98,000, the cost of borrowing the objects for the museum; this is lots of the money spend on borrowing, but revenues from the loaned objects were not able to cover it. Museum’s funding mostly comes from the government, private sectors and entrance revenues but the economic costs of the museum’s operations, including employees’ salaries; arts maintenance and other expenses, were much higher than the museum’s revenue in admissions; loans and others. Shortage in the …show more content…
This article mentioned the new proposal by President Trump’s to cut the budgets spend on public institutes like museums and libraries. Since the government support is one of the great portions of museum’s funding, the museum might be facing the bigger challenge of financial issues if the acts