This report presents the outcomes of the AHRC’s Cultural Value Project which looked at how we think about the value of the arts and culture to individuals and to society. This report sets out the often striking findings of the Project’s work. Some 70 original pieces of work collectively make up the Cultural Value Project – a mixture of new research, critical reviews of the literature and specialist workshops. This work has probed, challenged and advanced our thinking about how better to understand and capture the elusive phenomenon that is called ‘cultural value’. The authors of the report have also drawn on a wide range of literature from the UK and internationally. The result is among the most extensive, wide-ranging and challenging of attempts to grasp the difference to individuals, society and the economy that engagement with arts and culture makes.