Cost Benefit Analysis of UNESCO World Heritage Site Designation in Nova Scotia

UNESCO World Heritage (WH) designation can significantly boost visitor spending, but its economic viability depends on visitation levels and rising costs. A cost-benefit analysis of Old Town Lunenburg, a WH site since 1995, revealed a 6.2% increase in Nova Scotia's tourism revenue post-designation. The study projected similar proportional benefits for Grand Pré National Historic Site, which is seeking WH status. However, the escalating costs of designation pose challenges, particularly for smaller-scale attractions. The research highlights that while WH recognition can drive economic growth, its long-term sustainability requires careful consideration of visitation impacts and financial burdens.

Kayahan, B., & VanBlarcom, B. (2013). Cost Benefit Analysis of UNESCO World Heritage Site Designation in Nova Scotia. Review of Economic Analysis, 4(2), 247–273. https://doi.org/10.15353/rea.v4i2.1386