ABSTRACT
This chapter explains when investing economic resources in cultural and natural heritage, it does not only provide expected economic benefits in terms of jobs and income, but it potentially also promotes social, equitable and inclusive benefits for all. It emphasizes historic parallels between economic changes and heritage conservation from a global perspective. The chapter addresses some implications of this dynamic framework and describes the concept of economic inclusiveness, in particular in the urban heritage context. It analyses the content of the 2015 policy in terms of its integration of economic sustainability into the processes of the World Heritage Convention of 1972. The chapter also analyses how heritage economics can help to address some of the sustainability challenges faced by United Nations Educational, Scientific and Cultural Organization (UNESCO) and State Parties in relation to World Heritage site management. It indicates sustainable outcomes will depend on the nature of cultural heritage activation.
