The Economic Benefits of Heritage

Professional Associations

cropped-SAHANZ-logo-horiz-web-1
oeh-logo-black-png-no-bounding
download
logocor-e1407796393448
Australian-Institute-of-Architects_mono_pos-logo

The-Hermitage-20-June-09-Ryde-NSW-7-300x199The economic benefits of cultural heritage are manifest in many forms such as tourism, sustained real estate values and a burgeoning domestic construction and maintenance industry in most of Australia’s historic centres.

The value of a heritage property can be assessed in one of two ways.  Firstly; its existence value i.e. by the simple fact that it exists as an historical marker of a previous era and secondly, its economic value based on real estate market prices.  This duality forms the basis of much debate in society because although privately owned, there is a public good component to all heritage listed buildings and places in society.


 

Nasser explains that conservation has three interrelated objectives; physical, spatial, and social. Physically, it is linked to building preservation.  Spatially, it is linked to townscape as a holistic entity and socially, it is concerned with users, the local community and urban population.

She argues that the social dimension is the most difficult to define because factors of selection, restriction and expansion, efficient use, and viability are product focused concerns that treat physical attributes and their commercial potential in higher order that the needs of  users, residents, property owners, and those who depend upon conserved heritage environments for their livelihoods.

Paul Rappoport – Heritage 21 – 7 September 2011

Related Articles

article-1
New Ways of Assessing Heritage Impact

The system we use today in NSW and Australia generally to assess heritage impact is limited and perhaps slightly old…

Read more
article-1
Taxing tourism to pay for cultural built heritage

The World Bank (2010) writes that a good investment climate for tourism, underpinned by a sound tax regime, can play…

Read more
article-1
Heritage-Tourism – Loving it to Death

How often have we all heard or read the phrase; “Tourism is a driver of economic development”.

Read more
article-1
Is Heritage in the Public or Private Interest?

Clearly, the development and pro- conservation approaches are like ships passing in the night. Will there ever be a happy…

Read more

526dad159320ae83e6a08364079da7b7a1b6ece0

Complete the form below to contact us today.

  • This field is for validation purposes and should be left unchanged.
By signing in you agree with the Terms and Conditions and Privacy Policy