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Cost Benefit Analysis of UNESCO World Heritage Site Designation in Nova Scotia

  • Burc Kayahan

    (Department of Economics, Acadia University)

  • Brian Vanblarcom

    (Department of Economics, Acadia University)

Registered author(s):

    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.

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    Article provided by Rimini Centre for Economic Analysis in its journal Review of Economic Analysis.

    Volume (Year): 4 (2012)
    Issue (Month): 2 (December)
    Pages: 247-273

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    Handle: RePEc:ren:journl:v:4:y:2012:i:2:p:247-273
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    1. Bruno S. Frey & Lasse Steiner, 2010. "World Heritage List: does it make sense?," IEW - Working Papers 484, Institute for Empirical Research in Economics - University of Zurich.
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