The Junta presents the EVOCH Platform on Economic Value of Cultural Heritage in Portugal

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The conference was aimed to serve as a showcase of data collected by both countries related to the economic return generated by cultural heritage activities. It was highlighted that this return not only includes benefits to tourism, but also those related to intangible values, as well as the significance of heritage as a drive for wealth and prosperity.

Mr. Enrique Saiz, General Director of Cultural Heritage, presented the European EvoCH Platform in Guimarães, Portugal, which is managed and coordinated by the Junta de Castilla y León and which already includes more than 150 member entities from ten countries. As part of the conference “Heritage Figures in Spain and Portugal”, some relevant data was shared regarding the economic value of cultural heritage and collected by the members of the EVoCH Platform.

Among the conclusions drawn from this meeting, it was highlighted that the cultural heritage return not only includes benefits to tourism, but also those related to intangible values, as well as the significance of heritage as a drive for wealth and prosperity. Also stressed was the vision of cultural heritage as a non-renewable asset, as an investment rather than an expense, as well as the need of a regional, comprehensive and multidisciplinary approach to cultural heritage through improving the partnership between public and private sectors, thus developing a clear strategic approach and encouraging innovation.

Regarding turnover, GDP, benefits and growth, it was highlighted that the contribution of the cultural sector to the Spanish GDP is estimated at 3.1%, reaching 4% if all economic activities related to intellectual property are included. Data also suggests that the ratio between cultural consumption and the expenditure on preserving historical heritage is 26, an explanatory figure of the return which cultural heritage provides to those activities related to its conservation. Furthermore, profit generated by investing in cultural heritage is 10% higher than that generated by the construction of highways and 14% higher than that generated by the construction of new buildings. In short, with 1.87 billion euros invested in cultural heritage, the cultural tourism created in Spain generated a return of 50 billion euros.

 With regard to the employment created, directly and indirectly, it was highlighted that those activities related to cultural heritage in the European Union generate around eight million jobs. Each direct position in the cultural heritage sector leads to approximately 26 jobs indirectly linked. Thus, for every million euros invested in cultural heritage, 212.5 jobs would be created.

During the conference it was also stressed that heritage has a great potential to create jobs because it is labour-intensive, i.e. in terms of rehabilitation for which between 60 and 70% involves a workforce. One million dollars invested in new construction creates 36.1 jobs while one million dollars invested in the refurbishment of historical buildings creates 40 jobs.

As far as investments, data indicates that Castilla y León is the leading region in Spain with regard to cultural tourism consumption. This data was categorized by autonomous region and compared the expenditure on heritage conservation with cultural tourism consumption.