HERITAGE SITES: The PROBLEM of ECONOMIC, SOCIAL and CULTURAL VALUATION

Abstract

The flooding of Hasankeyf raises an important problem of economic valuation of heritage sites. Hasankeyf, located on the Tigris river in South-eastern Turkey, prior to its flooding by the Ilisu dam project, was considered to be one of the oldest continuously inhabited human settlements that goes back 12,000 years. The Turkish government justified the construction of the dam by emphasising its economic benefits despite strong objections from other stakeholders who were concerned about the impending loss of cultural and social heritage. The paper highlights the historical and cultural significance of Hasankeyf, and the impact of the dam from the perspective of the Government and other stakeholders. The economic benefits of potential infrastructure developments often outweigh the benefits of the cultural and social value of heritage. Valuing heritage sites is inherently subjective and difficult to quantify. The focus of this paper is to determine a rigorous method of quantifying the economic value of cultural and social heritage. Treating cultural heritage sites as public goods the application of three methods of valuation is assessed with reference to Hasankeyf: The Coase theorem, the travel cost method and the contingent valuation method. These methods are examined in terms of practical application, socio-economic level of population and political will. Unlike the Coase theorem, the travel cost and the contingent valuation methods could have applied in Hasankeyf to assess the economic value of its cultural loss with support from the international community. However, the low socio-economic level of the local population and lack of political will would have proved counterproductive. Nevertheless, where the political will exists, these methods are practical and proven to be rigorous in their application. Thereby transforming cultural and social heritage into economic value that could endure in the future.