ABSTRACT
A significant issue with participatory placemaking lies in determining the degree of involvement of professionals and non-professionals. Until more official acknowledgement of the value of participatory placemaking and economic support is increased accordingly, there is a risk that participatory placemaking will remain marginalised as a cultural activity. Participatory placemaking, with its relatively holistic perspective that aims to bring value to more than one party and to balance the interests of different stakeholders, is limited by the orthodoxy of fundraising. As a new field of urban intervention, participatory placemaking often lacks the benefit of a track record to support funding applications. It is becoming critical to develop solid Key Performance Indicators (KPI) and monitoring and evaluation techniques that reflect measurable impact. The term gross national product was coined in 1972 by Bhutan's fourth Dragon King, Jigme Singye Wangchuck, and the concept was the pillar of his young constitutional monarchy of Buddhist Bhutan.
