ECONOMICS UNIQUENESS

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248 ■ THE ECONOMICS OF UNIQUENESS BOX 9.1 The Opportunities and Challenges of Urban Heritage Are Documented Worldwide Historic Cities and Sacred Sites: Cultural Roots for Urban Futures The World Bank started the debate on the importance of conservation and regeneration of historic city cores and cultural heritage decades ago. A fl agship World Bank publication, called Historic Cities and Sacred Sites: Cultural Roots for Urban Futures, was published in 2001 and included more than 50 essays by a wide range of researchers and practitioners working in developed and developing countries. This publication aimed at exploring such topics as the governance, planning, and management of urban heritage and the challenges for heritage conservation during periods of economic transition. This book aimed especially to contribute to the understanding of culture’s function in nurturing economic development by addressing one element of identity—the sense of place. It explored the sense of place and the historic continuity of socio-cultural roots that can inspire a positive civic culture, city image, and energy for urban development and transformations. This concept of roots emphasizes the importance of conserving meaningful physical dimensions of locations—historic buildings, streetscapes, and open spaces that have special signifi cance to people and that help create a sense of belonging. Source: Serageldin, I., E. Shluger, and J. Martin-Brown, eds. 2001. Historic Cities and Sacred Sites: Cultural Roots for Urban Futures. Washington, DC: World Bank. urban landscape was appropriately enhanced at a time when decision makers in historic city cores were confronted with sustainable development priorities. It is now widely accepted that “economic aspects of urban development should be bound to the goals of long-term heritage preservation,” as indicated in the Vienna Memorandum. Th is emphasis on including heritage concerns within economic planning can help historic city cores face their specifi c challenges. Part of the challenge is to attract investment and generate wealth. When industrial development emerged in the western countries, geographical factors were oft en key to success: communication crossroads, means of transportation, access to rivers and seas, proximity of raw material and coal mines, labor resources, local skills, and so on. Economic growth today relies less on these physical attributes, but more on high-tech state-of-the-art communication networks. Nevertheless, cultural factors such as amenities, beautiful
MAPPING HERITAGE ECONOMICS FOR SPATIAL ANALYSIS ■ 249 architectural settings, and better quality of life can be successful in attracting companies and investment. As compared with the industrial era, this era fortunately allows many countries in the world to participate in the major competition game, boosting economic opportunities, cultural resources, and sustainable development all at once. Sustainable growth is an important issue today on the political agenda. Regeneration of historic city cores and conservation of cultural heritage assets match perfectly the objective of sustainability: built heritage is immutable, and nominated sites are distributed across the world. 4 In fact, heritage represents an exception among economic resources: rich and poor countries possess them, and the monuments cannot be displaced. But sustainability is not an easy goal to achieve, because a rapid urbanization process poses a key challenge in the integration of cultural heritage conservation within the development of contemporary city planning systems. Stewardship of heritage assets requires up-to-date information on their economic value, and on the economic impacts and outcomes of their conservation. Providing accurate data can help the decision-making process, but will not bridge the gap between conservation ideals and reality. Heritage is a defi nite asset for developing cities in the long run. But the optimal path toward balanced development requires accurate tools, as well as an open-minded attitude from various stakeholders. Economic Values and Indicators Heritage economics, based on database and information systems, can contribute to achieving two objectives. Th e fi rst is to monitor the stock of cultural heritage assets in the historic city core, assessing its economic values and analyzing the nature, the local distribution, and the evolution of such values over time. Heritage indicators and maps are key elements in this analysis. Th ey can display excess or lack of values, unbalanced distribution of values across the city, or values not in phase with sustainable development. Th e second objective is to feed into the fi eld of planning and the decision-making process, and in particular investment appraisal techniques applied to conservation. Economic data provide useful information to assess the magnitude of impacts expected from projects. Today, measuring economic values has become a standard process in economics either for assessing the benefi ts of investing in cultural capital, or for evaluating and selecting conservation and management projects. Use and nonuse values express the tangible and non-tangible aspects of the built heritage. In economic terms, use and non-use values are distinguished by the marketable or non-marketable aspects of the heritage. Th e peculiar characteristic of heritage,
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Public Disclosure Authorized Public
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Th e Urban Development Series discu
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© 2012 International Bank for Reco
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vi ■ CONTENTS Project Appraisal i
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viii ■ CONTENTS Appendix II: Addi
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x ■ CONTENTS 7.4 Tourism Is Coupl
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xii ■ CONTENTS 9.1 How to Organiz
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Exegi monumentum aere perennius reg
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ACKNOWLEDGMENTS ■ xvii Cultural O
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xx ■ OVERVIEW What Are the Object
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xxii ■ OVERVIEW and captures the
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xxiv ■ OVERVIEW periphery, especi
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xxvi ■ OVERVIEW tourism—by impr
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xxviii ■ OVERVIEW 3. Institutiona
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1 Livable Historic City Cores and E
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LIVABLE HISTORIC CITY CORES AND ENA
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2 Investing in the Sense of Place:
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INVESTING IN THE SENSE OF PLACE ■
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0 45° INVESTING IN THE SENSE OF PL
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FIGURE 2.4 continued INVESTING IN T
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A Dubious Alternative: Property Rec
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TABLE 4.1 Overview of Hedonic Price
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FIGURE 6.5 Quito and Oaxaca: Timeli
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TABLE 6.5 Quito Investments in the
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7 UNESCO World Heritage List, Touri
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UNESCO WORLD HERITAGE LIST, TOURISM
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TABLE 7.1 Regional and Historical D
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TABLE 7.3 Benchmark Regressions Fir
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ECO-AUDIT Environmental Benefits St
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