Naslov
Cost–Benefit analysis in the evaluation of cultural heritage project funding

Autori
Tišma, Sanja, Mileusnić Škrtić, Mira ; Maleković, Sanja ; Jelinčić, Daniela Angelina

Izvornik
Journal of risk and financial management (1911-8066) 14 (2021), 10; 466, 21

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
cultural heritage ; cultural heritage projects ; EU funds ; economic analysis ; cost–benefit analysis

Sažetak
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 mainte- nance 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 assump- tions 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 fund- ing 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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Interdisciplinarne društvene znanosti

POVEZANOST RADA