ECONOMICS UNIQUENESS

Can investment in historic city cores and cultural heritage help reduce
poverty and promote economic growth? The Economics of Uniqueness
tries to answer this question. In a world where more than half of the
population now lives in cities and more than 90 percent of urban growth occurs
in the developing world, cities try hard to modernize without losing their unique
characters, embodied in their historic cores and heritage assets. As cities expand
rapidly, conservation and continued use of these assets can provide crucially
needed continuity and stability. In other words, the past can become a foundation
for the future.
The benefi ts of investing in heritage for livability, job creation, and local
economic development have been increasingly studied and debated over the
last few decades, with the economic theory underpinning investment becoming
substantially more robust. Reusing built assets and regenerating underutilized land
in central locations is very much linked with the World Bank Group’s inclusive green
growth agenda. A city’s conserved historic core can also differentiate that city from
competing locations—branding it nationally and internationally—thus helping the
city attract investment and talented people. Cities that are the most successful
at attracting investment and businesses to meet the aspirations of their citizens,
while alleviating poverty and promoting inclusion, are those that harness all of their
resources, including their heritage. In addition, heritage anchors people to their
roots, builds self-esteem, and restores dignity. Identity matters to all vibrant cities
and all people.
The Royal Norwegian Ministry of
Foreign Affairs provided fi nancial
support for this book.
ISBN 978-0-8213-9650-6
SKU 19650