This book analyses the economic and financial profiles of heritage assets as tourist attractions. Offering both theoretical insights, methods, and global empirical examples, it considers how heritage assets can create economic and social value for a region.
It offers an analysis of micro- and macroeconomic characteristics of heritage assets and their financial management. The importance of innovation in light of technological and market transformations is considered, as well as the sustainable management of heritage assets environmentally and in terms of sustainable tourism. The book delves into the financial assessment of heritage assets with a focus on evaluation models, the technique of project financing and wealth management in the art sector. These topics are illustrated with cases studies of heritage assets managed as tourist attractions to outline successful management strategies. The book draws on examples from a range of sites and locations across Italy, Spain, the United Kingdom, New Zealand, and the United States to show how heritage assets can be an economic stimulus for the development of local economies.
The book will be of interest to academics and students at both undergraduate and postgraduate levels in the fields of tourism economics, cultural studies and environmental studies.
Author(s): Vincenzo Pacelli, Edgardo Sica
Series: Routledge Cultural Heritage and Tourism Series
Publisher: Routledge
Year: 2020
Language: English
Pages: 155
Cover
Half Title
Series Information
Title Page
Copyright Page
Table of contents
Illustrations
Introduction
1 Micro- and macroeconomic characteristics of heritage assets
Heritage assets among culture, landscape and tourism
The economic dimension of heritage assets
Microeconomic analysis of heritage assets
Microeconomic profile of heritage assets as cultural and landscape assets
Microeconomic profile of heritage assets as tourist attractions
Macroeconomic analysis of heritage assets
Identification of the heritage assets sector
Macroeconomic performance indicators for heritage assets
Market structure
Employment
Foreign trade
Innovation and environmental sustainability
Heritage assets and multiplier effects
Notes
References
2 Heritage assets, innovation and environmental sustainability
Introduction
Innovation in the heritage assets sector
Definition and measurement of innovation
Technological innovation and digitalisation
Heritage assets and sustainable development
Environmental sustainability of heritage assets as cultural and landscape assets
Environmental sustainability of heritage assets as tourist attractions
Seasonality and the carrying capacity of heritage assets
Notes
References
3 Financing heritage assets and art wealth management
Introduction
Project financing as a useful instrument in the financing of heritage assets
Importance of the business plan and financial planning in the financing of heritage assets
Public funding of heritage assets and European and Italian gaps in strategic coordination and planning
Wealth management in the art sector
Notes
References
4 The valuation of heritage assets
Introduction
Price versus value of heritage assets
Fundamental analysis and the family method of valuating companies that manage heritage assets
Methods of valuating heritage assets
Market approach
Economic approach
Financial approach
Medium value method
Notes
References
5 Caves as environmental and tourist resources: Analysis of the Waitomo Glowworm Caves and the Caves of Castellana
Introduction
Italian caves as an environmental and tourist resource
Waitomo Glowworm Caves
Castellana Caves
Geological and tourist genesis of the Castellana Caves
Grotte di Castellana: Corporate purpose, social object and governance
Development strategies
Management criticalities
Budget analysis
Contribution of the Castellana Caves to tourism and the local and regional economies
A look to the future
Notes
References
6 Heritage assets as a cultural and tourist resource: The cases of the Pinacoteca di Brera, the National Archaeological ...
Introduction
Pinacoteca di Brera
Description
Governance
SWOT analysis
Data analysis
MArTA
Description
Governance
SWOT analysis
Data analysis
RavennAntica Foundation
Description
Governance
SWOT analysis
Data analysis
Conclusion
Notes
References
7 How a heritage asset as a tourist attraction can create regional value: Best practice from Europe and the United States
Introduction
Guggenheim Museum in Bilbao
Serralves Foundation, Porto
National Museums Liverpool
Merano Thermal Baths
Balboa Park, San Diego
Museum of Fine Arts, Boston
Notes
References
Index
