AEA Consulting is pleased to share the latest edition of the Cultural Infrastructure Index (CII), a measure of major investments in capital projects in the cultural sector with budgets of US$10 million or more, that were either announced or completed in 2023.

Now in its eighth year, the CII provides a long-term view on trends in the field. An analysis of projects that were completed or publicly announced in 2023 shows relative stabilization following a post-pandemic boom: the number of projects completed increased in both volume and value when compared to 2022, while the value as well as the number of projects announced fell from a record high in 2022. However, if we look back to 2016, when AEA began tracking the CII, we see a more complex picture, as we find the volume of new projects – both announced and completed – increasing, while we see the value of investment decreasing, reflecting the current economic uncertainty affecting both the public and private sectors.

In addition to value and volume of new projects, the Index tracks trends on the number, type, location, and budgets of cultural infrastructure projects announced and completed every year, demonstrating activity across project types as well as uses, geographical spread and year-on-year changes.

Highlights from the 2023 Cultural Infrastructure Index:

• In 2023, 192 major cultural infrastructure projects were completed globally and 198 were announced. Completed projects totaled US$8.58 billion of investment, while announced projects represent US$5.62 billion of new spending to come.
• Renovation and adaptive reuse were popular project categories, showing signs of sustained growth, together comprising 78 completed projects (41% of total). This year’s Index includes an in-depth look at what’s driving this trend and the opportunities for cultural institutions (and their project teams) to achieve sustainability goals through adaptive reuse.
• Museums and galleries remained the most popular form of infrastructure for the eighth consecutive year, accounting for 213 announced and completed projects (55% of total) valued at $7.1 billion. The next most popular typologies were performing arts centers (72, 19% of total); multifunction arts venues (66, 17% of total); and cultural districts (22, 6% of total).
• For the first time, we have introduced immersive art venues as a new infrastructure category, identifying 17 announced and completed projects across North America, Europe, Asia, and the Middle East.
• Development of major cultural infrastructure outside of traditional cultural capitals in the Global North is rising. In total, projects were recorded in 48 countries and over 275 towns and cities, only 27% of which are among the top 75 global urban centers. Notable examples of major projects outside traditional cultural capitals include: Alexandria in Egypt, Paisley in the UK and Sokcho in South Korea.

Explore more of AEA’s findings in the  2023 Cultural Infrastructure Index.