Global Journal of Economics and Business

Volume 12 - Issue 3 (9) | PP: 414 - 424 Language : English

The Significance of Cultural Heritage in Fostering Economic Viability

Suhib Yousef Dawood Bani Omar
Received Date Revised Date Accepted Date Publication Date
15/3/2022 8/4/2022 25/4/2022 29/6/2022
The Study addressed the theme of Cultural Heritage's role in boosting economic viability, aimed at identifying the process of profiting from cultural heritage, in terms of economic return on States; as it discusses the concept of cultural heritage; its function, types, and significance, as well as the concept of economics, and the role of cultural heritage in country’s economic growth. The Study then discussed Cultural Heritage and archaeological surveys, as well as the significance of archaeological surveys to national economies. The Study also investigated instances of Cultural Heritage and its relationship to economic returns, as well as media’s significance in recognizing the role of cultural heritage in the growth of countries' economy. The descriptive analytical method was applied in the study, and the following findings were procured: Cultural Heritage is the essence of the economy and sustainable development; therefore, it should be protected and passed down to future generations to ensure their development, as it aids in understanding the past and improves the material and spiritual well-being of States in general, and individuals and society in particular. Furthermore, benefiting from cultural heritage in relation to economic returns to States is a difficult task; as a result, States should be present across different promotional campaigns that support and preserve Cultural Heritage, with an emphasis on demonstrating its economic return to States, which may be carried out directly or indirectly. The Study came out with several recommendations, the most significant of which are: objectives and priorities for the role of cultural heritage and its economic impact, in accordance with national policies, should be in place. Further, it is crucial that States strengthen and build production and distribution capacities in the field of culture, as well as facilitate a wide access of their cultural services, activities and products to the global market, in addition to capacity development via the exchange of experiences, information, research, and human resource training.

How To Cite This Article
Omar , S. Y. D. B. (2022). The Significance of Cultural Heritage in Fostering Economic Viability. Global Journal of Economics and Business, 12 (3), 414-424, 10.31559/GJEB2022.12.3.9

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