Title: Pricing Cultural Heritage: A new approach to managing ancient resources
Author: Susana Mourato, Ece Ozdemiroglu, Tannis Hett & Giles Atkinson
Published: September 2004
A growing determinant of leisure travel decisions has been the demand for
cultural destinations. This has presented complex challenges with regards to the
correct management of major cultural resources. Management options can be
assessed in terms of three criteria of performance: access, financial sustainability
and environmental sustainability. This paper shows that a promising means of
reconciling these desirable objectives is to harness the potential of economic
pricing strategies (such as entry charges), where data on willingness to pay for
visits are based on non-market valuation methods. A real-life illustration is
provided by examining the case of the Machu Picchu Historic Sanctuary in Peru.
It is shown that this approach can usefully inform expected changes in the entry
fee level and structure not just of Machu Picchu but cultural destinations and
resources more generally.