Cost Benefit Analysis of UNESCO World Heritage Site Designation in Nova Scotia
Burc Kayahan () and
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Brian Vanblarcom: Department of Economics, Acadia University
Review of Economic Analysis, 2012, vol. 4, issue 2, 247-273
The objective of this research is to compare the economic benefits (defined as visitor spending) and costs of a UNESCO World Heritage (WH) designation. The study focuses on two sites in Nova Scotia; Old Town Lunenburg (designated as a WH site in 1995) and Grand Pr‚ National Historic Site (which has applied for a WH status). Pre/post designation visitation data from Lunenburg was used to quantify the impact (6.2%) in the Nova Scotia context. A proportional (to visitation) impact was projected for Grand Pr‚. The analysis indicates that the level of visitation is important in determining economic viability and that the rising costs of a WH designation further challenge smaller scale attractions.
Keywords: World Heritage designation; UNESCO; Tourism (search for similar items in EconPapers)
JEL-codes: L83 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ren:journl:v:4:y:2012:i:2:p:247-273
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