Managing culture heritage thinking to community benefits. Two innovative methods to quantify impact on tourism and on private properties in a wider EIM model for Turin.

Abstract

The scientific community and international policy have now acknowledged cultural heritage as a heritage of the community with potential for the development of the territories - not only cultural and social but also - and especially - for their economic development. The literature and analysis methods developed in recent years have demonstrated the economic importance of cultural heritage, establishing its substantial economic contribution to the territories of reference. Excellent cases such as those of Detroit and Bilbao have confirmed that cultural heritage can be at the centre of important city redevelopments. The research hypothesis is that economic reconversion models are also effective for Italian cities and that the development of cultural heritage is in fact also quantifiable in extremely complex realities characterized by a core cultural offer that is not limited to a single and important attraction, as in the case of Bilbao, but permeates the whole urban fabric, as in the case of Italian cities such as Turin, where the entire historic centre has been identified as a tourist attraction. The model (Economic Impact Method - EIM) matching two innovative
and integrative methods to estimate cultural tourism impact and increasing in property values confirms the research hypothesis: cultural capital drives the local economy and is capable of producing, in
current conditions, a considerable impact in respect of the resources invested in them by public and private subjects. Furthermore, an evaluation has been made for the first time of the capacity of the cultural
endowment of a territory to retain outgoing tourism and to assess the return of cultural investments for private citizens due to increased real estate values of the redeveloped areas as a result of conservation and
restoration.