9.3 The economic value of Cultural Heritage and Sustainable Development
| FORUM 3: Who Pays? Who benefits? Rethinking Heritage Financing for a Hazard-Filled Future In this discussion, we ask two related foundational questions for the future of cultural heritage: Who pays? As heritage sites and practices face escalating risks from climate change, conflict, and overdevelopment, the economic models underpinning their protection are increasingly under strain. Traditional funding sources—government budgets, philanthropic donations, and multilateral aid—are often insufficient, inconsistent, or vulnerable to political shifts. At the same time, heritage continues to generate economic value through tourism, creative industries, and place branding, raising the question of how these benefits might be harnessed sustainably and equitably. What financing models can ensure long-term stewardship without commodifying or displacing the very communities whose heritage is meant to serve? In this forum, we will discuss various alternative approaches, from community heritage trusts and participatory budgeting to circular economy models and the valuation of cultural ecosystem services (CES). We will also consider whether fair trade frameworks—long applied in agriculture and crafts—might be adapted for heritage economies. Our objective is to explore the tensions between market-based solutions and sustainability and critically assess how economic, social, and environmental models can support and undermine heritage conservation goals. |
