The Economics and Finance of Cultural Heritage

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 heri- tage 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 heri- tage assets with a focus on evaluation models, the technique of project finan- cing and wealth management in the art sector. These topics are illustrated with cases studies of heritage assets managed as tourist attractions to out- line 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 eco- nomic stimulus for the development of local economies. The book will be of interest to academics and students at both under- graduate and postgraduate levels in the fields of tourism economics, cultural studies and environmental studies.