Evaluation of the Economic Values of the Heritage Buildings in the Historical Center of Bucharest Municipality

Economic Valuation of Cultural Heritage Using the Travel Cost Method: The Historical Centre of the Municipality of Bucharest as a Case Study

“…The importance of the built heritage is associated, on the one hand, with a varied typology, but, on the other, with the multiple values that it incorporates (historical, architectural, artistic, aesthetic, social, authenticity, symbolic, cultural, and scientific) [1][2][3][4][5][6][7][8][9][10][11][12][13]. These values justify the need for cultural heritage to be preserved properly and reused [12][13][14][15][16][17] to ensure a sustainable development that means cultural heritage can be passed on to future generations [12].…”

“…These values justify the need for cultural heritage to be preserved properly and reused [12][13][14][15][16][17] to ensure a sustainable development that means cultural heritage can be passed on to future generations [12]. At the same time, heritage buildings have an economic value [3][4][5][6]9,[11][12][13][14][15][16][17][18][19][20][21][22] due to the fact that they have multiple possibilities for adaptive reuse [3,6,12]: for hosting various economic activities (hotels, restaurants, offices, shops, etc.) [1,6,23,24].…”

“…At the same time, heritage buildings have an economic value [3][4][5][6]9,[11][12][13][14][15][16][17][18][19][20][21][22] due to the fact that they have multiple possibilities for adaptive reuse [3,6,12]: for hosting various economic activities (hotels, restaurants, offices, shops, etc.) [1,6,23,24]. Some historic buildings that no longer retain their original function are also reused for cultural purposes [12,[14][15][16]22] due to their particular characteristics (antiquity, architecture, symbolic value).…”

“…The economic value of heritage buildings overlaps with sociocultural values [3,6,12], and sometimes there is a conflict between the two [3,6,16,26,27]. In this context, the cultural heritage conservation and valorization refer to multiples values that it incorporates, also including economic constraints, technical aspects [3], and a large number of stakeholders with different levels of influence in the decision-making process [3,6,16,28,29].…”

“…The reuse of heritage buildings is a priority action in the regeneration process, due to the fact that historical monuments are in different states of conservation, and some are unused [6,14,[22][23][24]. Adaptive reuse is often seen as an alternative to demolition of heritage buildings [13,30], and relies on the principle of their continuous use [13,14,22].…”