The Economics of Arts & Health: Social Prescribing
23 September 2025, Federal Reserve Bank of New York
A closed roundtable at the Federal Reserve Bank of New York during UNGA Healing Arts Week 2025, exploring the economic case for the arts in health, with a focus on social prescribing.
Organizers
Co-Chairs
Javier Silva
Senior Associate Director, Community Engagement Outreach & Education, Federal Reserve Bank of New York
Website
UNGA Healing Arts Week
On 23 September 2025, during UNGA Healing Arts Week, the Federal Reserve Bank of New York hosted a historic roundtable on the Economics of Arts & Health. The roundtable was co-chaired by Prof. Jill Sonke (U.S. Cultural Policy Fellow, Stanford University), Prof. Nisha Sajnani (NYU Steinhardt; Co-Director, Jameel Arts & Health Lab) and Javier Silva (Senior Associate Director, Community Engagement Outreach & Education, Federal Reserve Bank of New York).
The closed session examined emerging opportunities and the economic impact of arts and health, with a particular emphasis on the expanding field of social prescribing, which connects people to non-clinical resources such as arts, culture, nature and community support.
The discussion drew on growing economic evidence from both sides of the Atlantic. In the UK, a Frontier Economics report for the Department for Culture, Media & Sport, co-authored by Lab Steering Committee Chair Prof. Daisy Fancourt, estimates that engagement with culture and heritage provides £18 billion a year in health and wellbeing value. In the US, a Deloitte analysis commissioned by AARP and the NeuroArts Blueprint Initiative found that music engagement for people living with Alzheimer's disease and their caregivers is worth $5.1–11.9 billion a year in care for Alzheimer's and related dementias.
The roundtable set out to support policy and investment pathways that recognize the arts as a core part of public health, and to advance the embedding of arts engagement within health and social care systems.
"The arts can provide creative solutions to wickedly complex health problems. They are not a luxury in healthcare, but an essential." — Prof. Daisy Fancourt, University College London
The roundtable was the first in what has become an annual series, with the second held at the Federal Reserve Bank of New York during UNGA Healing Arts Week 2026.
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Roundtable participants on the steps of the Federal Reserve Bank of New York, 33 Liberty Street.
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Participants follow Prof. Jill Sonke's presentation, "Arts + Social Prescribing in the US".
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Sara Lyding (Music Man Foundation) and Larissa Trinder (NYC Health + Hospitals) in conversation during the roundtable.
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A presentation on Elemental social prescribing during the roundtable.
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The roundtable opens: "Social Prescribing: Economics of Arts & Health" at the Federal Reserve Bank of New York.
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Discussion around the table, with participants including Prof. Daisy Fancourt (University College London), David Erickson (Federal Reserve Bank of New York) and Susan Magsamen (Johns Hopkins University School of Medicine).
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A presentation from Kate Mulligan, Director, Canadian Institute for Social Prescribing.
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John Blaffer Royall (PMB Capital) in discussion during the roundtable.
Related
Event
UNGA Healing Arts Week 2025
Held on the sidelines of the 80th Session of the UN General Assembly, UNGA Healing Arts Week 2025 shining a light on the role of culture and creativity in advancing global health priorities. For the first time, the activation will take place across all five borough of NYC.