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Valuing Cultural Heritage

Applying Environmental Valuation Techniques to Historic Buildings, Monuments and Artifacts

Edited by Ståle Navrud and Richard C. Ready

What value do we place on our cultural heritage, and to what extent should we preserve historic and culturally important sites and artefacts from the ravages of weather, pollution, development and use by the general public? This innovative book attempts to answer these important questions by exploring how non-market valuation techniques – used extensively in environmental economics – can be applied to cultural heritage. The book includes twelve comprehensive case studies that estimate public values for a diverse set of cultural goods, including English cathedrals, Bulgarian monasteries, rock paintings in Canada, statues in the US, and a medieval city in Africa.
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Chapter 9: Economic Benefits to Foreigners Visiting Morocco Accruing from the Rehabilitation of the Fes Medina

Richard T. Carson, Robert C. Mitchell and Michael B. Conaway


Richard T. Carson, Robert C. Mitchell and Michael B. Conaway INTRODUCTION This chapter describes a study for the World Bank which measured some of the economic benefits from a proposed project to preserve and restore the Fes Medina, a World Heritage Site. This study focused on the benefits to foreigners visiting Fes and to foreigners visiting Morocco but not visiting Fes. The economic benefits were measured using three contingent valuation survey instruments which were developed for this study and administered in Fes, Casablanca, and Tangier. The design, development, and administration of these survey instruments are described, and the data analyses for the two groups of foreign visitors are presented separately. The Turnbull lower bound on the sample mean for the Fes visitors was $69.59; the related aggregate estimate for the 161,149 estimated adult visitors to Fes who stayed overnight in a Fes hotel was $11,233,148. Similarly, the Turnbull lower bound on the sample mean for visitors to Morocco who did not visit Fes was $30.92; the related aggregate estimate for the estimated 1,516,169 adult visitors who stayed overnight in a Moroccan hotel but did not visit Fes was $46,879,945. Description of Morocco and the Fes Medina The Kingdom of Morocco (Morocco), known locally as Al-Mamlakah AlMaghribiyah or by the shorter name Al-Maghrib, lies on the northwestern coast of Africa, bordering the North Atlantic Ocean and the Mediterranean Sea, and across the Strait of Gibraltar from Spain. With an area of some 446,550...

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