Evaluating the tangible and intangible parameters of cultural heritage: an economic meta-analysis in a global context

Evaluating the tangible and intangible parameters of cultural heritage: an economic meta-analysis in a global context

Sustainable development ensures the longevity of civilization by balancing economic growth, environmental protection, and social equity. The present study evaluates cultural heritage assets via a meta-regression analysis function transfer, in which 85 studies were examined that revealed 106 differen...

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Bibliographic Details
Published in:Discover sustainability Vol. 5; no. 1; pp. 187 - 16
Main Authors: Halkos, George E., Koundouri, Phoebe C., Aslanidis, Panagiotis-Stavros C., Plataniotis, Angelos
Format: Journal Article
Language:English
Published: Cham Springer International Publishing 12-08-2024
Springer Nature B.V
Springer
Subjects:
Adaptation
Benefit transfer
Climate change
COVID-19
Cultural capital
Cultural heritage
Cultural values
Culture
Earth and Environmental Science
Environment
Environmental protection
Human capital
Hypotheses
Intangible cultural heritage
Meta-regression analysis
Socioeconomic factors
Sustainable Development
Tangible cultural heritage
Tourism
Valuation
Value transfer
Willingness to pay
Intangible cultural heritage
Z18
Q54
C5
Value transfer
Meta-regression analysis
Z1
Benefit transfer
Tangible cultural heritage
Willingness to pay
Q53
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Summary:Sustainable development ensures the longevity of civilization by balancing economic growth, environmental protection, and social equity. The present study evaluates cultural heritage assets via a meta-regression analysis function transfer, in which 85 studies were examined that revealed 106 different willingness-to-pay (WTP) values in the period 1995–2022. The meta-regression methodology enables the valuation of cultural heritage—tangible and intangible—goods and services, as well as cultural values (e.g. aesthetic, spiritual, symbolic, etc.). The utilization of WTP would enable us to compare the two models (i.e., European and non-European) on how much a citizen would value cultural heritage based on non-market valuation. The results would inform policymakers about the importance of cultural heritage assets in the sustainable development agenda. The empirical findings present that the WTP for the European sample is 37.6€ and for the non-European is 60.12€. In essence, the Europeans are influenced mainly by intangible cultural assets, whereas non-Europeans are influenced by oral tradition. Overall, cultural heritage conservation necessitates for proper economic valuation through a holistic approach, in short—the valuation of both tangible and intangible cultural goods and services is imperative for sustainable development.
ISSN:2662-9984
2662-9984
DOI:10.1007/s43621-024-00398-w