1. By George, Sarah, Annalise and Gemma

3. The Guggenhiem was designed by Frank Gehry. It is one of many museums featuring modern, contemporary art created by both Spanish and international artists. Even the building itself is considered one of the most admired pieces of architecture in the world today. It was established on October 18 th 1997 and has had over 3.5 million visitors since its opening, helping to attract residents from foreign countries into Bilbao. The building was constructed on time and budget, which is rare for architecture of this type. It has attracted lots of media attention across the globe.

5. Not only has the Museum attracted guests from around the world, but it has also generated around £318 billion of economic benefits – nearly seven times its initial investment cost. In 2001, the museum’s approximate economic impact was worth £107 million and it also brought £17.2 million to the Basque treasury in the very same year. It has also made considerable improvements for the economy in other parts s of Bilbao, particularly for local businesses and shops. The term ‘The Guggenheim Effect’ was created as a result of the Museum’s success.

6. New Guggenheims have also been built in Venice, Berlin and Las Vegas. Many people, including officials and the general public, who originally did not approve of the idea, are now astounded by the continuous success of the project. It has also provided employment for the people of Bilbao. T he museum has contributed more than £1.5 billion to Spain's GDP.

7. The people of Bilbao have seen their city transformed by one building. It has grossly improved the economic climate of both Bilbao and, on a larger scale, Spain. Juan Ignacio Vidarte, the director of the building, said, “The magnitude of the success was far more than we imagined”. The success of the Guggenhiem has influenced others across the world to take on similar architectural projects.

8. Cultural rebranding focuses on aspects such as the art and architecture. Therefore, this form of rebranding helps, in particular, to attract tourists and investors. It allows both the public and professionals to display their work in different formats, helping to create a more culturally defined location, and this is the case for Bilbao. Cultural rebranding helps to bring a place to a modern age, aiding contemporary methods that will increase the overall improvement in every aspect; economically and socially.