Heritage Valuation Driving Sustainability of Cultural Capital in Bishnupur in Eastern India
Heritage Valuation Driving Sustainability of Cultural Capital in Bishnupur in Eastern India

Summary/Abstract: Cultural heritage of a country represents an array of monuments, historicbuildings, arts and crafts, indigenous skills and traditions. The emerging threatsto the cultural resources by way of decay, loss or destruction, has becomea prime concern today. Heritage has become one of the vital componentsof tourism industry. It is being considered as cultural capital. The processof valuation of this capital is very complex since Heritage is basically a nonmarketedgood. Different techniques used for valuating environmentalresources which are similar in nature to Heritage, have led to the developmentof economic valuation models especially for valuation of Heritage as culturalassets. This economic approach has helped to derive the real value of heritagesites by way of consumer’s surplus and consumer’s willingness to pay for theuse of cultural heritage assets and sustain sites for future generations.

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