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Evaluation of the social values and willingness to pay for conserving built heritage in Hong Kong

Evaluation of the social values and willingness to pay for conserving built heritage in Hong Kong Purpose – This study aims to evaluate the relationship between the major factors of social value and the willingness to pay amount for conserving a historic site, using Hong Kong as a case study of a dense urban city with immense tension between conservation and development. It also evaluates, in monetary terms, the social values, which are almost impossible to measure in built heritage conservation. Design/methodology/approach – It adopts evaluation ratings and the contingent valuation method to estimate Hong Kong citizens’ willingness to pay (WTP) for the conservation of the Central Police Station compound. Findings – The results of 256 surveys suggest that the extent to which the historic site can provide a “sense of place and identity”, “social inclusion” and “community participation” is positively correlated to the WTP amount. The respondents’ satisfaction with the new use of the site, their work location and education level affected the amount they were willing to contribute to the conservation project. The reasons given for not being willing to contribute were also analysed to provide insights for cultural heritage policy. Originality/value – The findings provide an enhanced understanding of the relationship between the major factors of social value and the WTP amount. This study proposes a partial tool to elicit the non-market value of heritage site which should be supplemented with experts’ evaluation to assist decision-making. It enhances public participation, particularly in the public–private partnership model of heritage conservation. Thus, it provides valuable insights for policymakers and planners to understand the public’s perception on the value of heritage conservation in cities facing immense redevelopment pressures. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Facilities Emerald Publishing

Evaluation of the social values and willingness to pay for conserving built heritage in Hong Kong

Facilities , Volume 33 (1/2): 23 – Feb 2, 2015

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References (73)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0263-2772
DOI
10.1108/F-02-2013-0017
Publisher site
See Article on Publisher Site

Abstract

Purpose – This study aims to evaluate the relationship between the major factors of social value and the willingness to pay amount for conserving a historic site, using Hong Kong as a case study of a dense urban city with immense tension between conservation and development. It also evaluates, in monetary terms, the social values, which are almost impossible to measure in built heritage conservation. Design/methodology/approach – It adopts evaluation ratings and the contingent valuation method to estimate Hong Kong citizens’ willingness to pay (WTP) for the conservation of the Central Police Station compound. Findings – The results of 256 surveys suggest that the extent to which the historic site can provide a “sense of place and identity”, “social inclusion” and “community participation” is positively correlated to the WTP amount. The respondents’ satisfaction with the new use of the site, their work location and education level affected the amount they were willing to contribute to the conservation project. The reasons given for not being willing to contribute were also analysed to provide insights for cultural heritage policy. Originality/value – The findings provide an enhanced understanding of the relationship between the major factors of social value and the WTP amount. This study proposes a partial tool to elicit the non-market value of heritage site which should be supplemented with experts’ evaluation to assist decision-making. It enhances public participation, particularly in the public–private partnership model of heritage conservation. Thus, it provides valuable insights for policymakers and planners to understand the public’s perception on the value of heritage conservation in cities facing immense redevelopment pressures.

Journal

FacilitiesEmerald Publishing

Published: Feb 2, 2015

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