News

The Provincial Council of Biscay and the Guggenheim have reported to the museum''s executive committee on findings made by preliminary studies for the expansion project. According to information gathered from a visitor survey together with market analysis, 148,000 people are expected to visit the new Guggenheim Museum in Urdaibai.

Certain details are as yet to be finalised, such as the choice of architect and the cost of the project, expected to be around 384 million euros, the Museo Guggenheim Bilbao informed during a press conference.

The idea behind the new museum is based on the premise that it should not be a repetition of the museum in Bilbao (designed by Frank Gehry), and therefore has not been proposed as an extension of the existing building but rather as a "discontinuous extension" as much physically as conceptually, to be located among outstanding countryside outside of the urban sprawl, thus allowing the development of new projects as well as strengthening alliances and relationships and setting in motion new and creative initiatives.

Market study

In order to evaluate the new museum''s financial potential, a survey was carried out on 2,668 visitors to the existing museum in Bilbao, allowing a rough estimate of possible visitors to the new "extension" in Urdaibai, which collected data puts at 148,000 visitors per year.

Cost analysis

Analysis into the economic impact of the new extension is still being carried out, but provisional figures show that construction costs would reach 384 million euros, including direct, indirect and induced expenses, while generating per capita income of 169.3 million euros and a fiscal income of 73.3 million euros, therefore contributing to the creation of 3,536 jobs.

Yearly operating costs are predicted to reach 85.7 million euros, with generated per capita income at roughly 43.7 million and tax income at 19.3 million euros, creating 926 jobs.