Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/258570 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 14 [Issue:] 10 [Article No.:] 466 [Publisher:] MDPI [Place:] Basel [Year:] 2021 [Pages:] 1-21
Publisher: 
MDPI, Basel
Abstract: 
Cultural heritage has, for a long time, been considered a source of wealth and well-being for economies. Currently, considerable investments have been allocated for its renewal and maintenance that often surpass the budgets of owners, local communities, and other interested users. Cultural heritage valorisation is expensive and is a great economic challenge. Infrastructural investment, i.e., conservation and restoration, are just one part of the total costs of cultural heritage preservation, while other investments relate to regular operation and maintenance. One of the most difficult decisions for those who design the cultural heritage restoration projects is how to finance them, i.e., what the most efficient financial instruments are for renewal of cultural heritage. These assumptions have instigated interest in the evaluation of services resulting from common good functions of cultural heritage, such as economic, educational, historical, technological, ecological, and climate, as well as tourism and recreational. Therefore, this article starts from the analysis of potential funding sources for cultural heritage through the European Union (EU) funds; a method of economic evaluation of the return on investments and cost-benefit analysis is suggested as a method that should be used in decision making on these interventions.
Subjects: 
cost-benefit analysis
cultural heritage
cultural heritage projects
economic analysis
EU funds
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.