Balboa Park is an iconic San Diego destination that provides tremendous value on many levels. Whether it is through its world-class museums, internationally recognized performing arts venues, vast educational resources, or stunning gardens, Balboa Park improves not only the economic welfare of San Diego, but its quality of life. The Balboa Park Conservancy’s goal is to tell the Park’s full story so that its true value is understood and appreciated.
Cultural tourism is a key growth sector for our regional economy, and Balboa Park is a keystone asset in exploiting this opportunity for economic growth. There is a need to more fully understand the impact of the Park beyond its intrinsic environmental, aesthetic, cultural, educational, and recreational benefits. A study of the “Balboa Park Economic Effect” would measure its economic impact in the areas of tourism and tax revenues, employment opportunities, and real estate values. Ultimately, a deeper understanding of the Park’s economic impact will help inform decisions and stimulate investment in preservation and development.
There is a rich body of work conducted by various sources that quantify the benefits of major parks to municipalities. Our approach will build on those sources and adapt them as a baseline to assist in telling the story of how Balboa Park has a multifaceted and positive economic impact on the region.
This study is funded through a grant from the Albert A. and Anna Belle C. Gabbs Balboa Park Fund at the San Diego Foundation.