Economic value assessment of industrial heritage in Tangshan, China

Aimin Li, Wahiza Binti Abdul Wahid, Mohd Jamil Bin Mat Isa, Mengtian Lu

Article ID: 3568
Vol 8, Issue 4, 2024

VIEWS - 236 (Abstract) 96 (PDF)


Industrial heritage is a legacy from the past that we live with today and pass on to future generations. The economic value of this heritage can be defined as the amount of welfare that it generates for society, and this value should not be ignored. However, current research based on economic analysis has mostly focused on qualitative statements instead of quantitative assessment. This study proposes an innovative methodology combining qualitative (field research) and quantitative (willingness to pay and contingent valuation) methods to assess the economic value of industrial heritage. The industrial heritage of Tangshan, China, was chosen as a case study, and the research found that museums and cultural creative parks are effective ways to conserve industrial heritage. The entrance fee can be used to represent the economic value of the heritage site. There was a positive correlation between the influence of economic value and the entrance fees residents would prefer to pay. The results indicate the locals would prefer lower entrance fees for the transformed heritage museums (The average current cost: $2.23). Locals were most concerned about the entrance fees for the Kailuan Coal Mine and Qixin Cement Plant Museums, which have both been renewed as urban landmarks for city tourism. Renewal methods have been applied to six industrial heritage sites in Tangshan; these sites have their own conservation and renewal practices based on city-level development or industrial attributes. Thus, when residents recognize the economic value of a heritage site, they are willing to pay a higher entrance fee. This research demonstrates the economic value of industrial heritage using a mixed methods approach and provides a basis for assessing the value of cultural heritage for urban tourism analysis.


cultural heritage; value analysis; economic assessment; contingent valuation method

Full Text:



Avrami, E., & Mason, R. (2019). Mapping the Issue of Values. In: Avrami, E., Macdonald, S., Mason, R., & Myers, D. (editors). Values in Heritage Management: Emerging Approaches and Research Directions. Getty Publications.

Biancone, P., Secinaro, S., Marseglia, R., et al. (2023). E-health for the future. Managerial perspectives using a multiple case study approach. Technovation, 120, 102406.

Botzen, W., van den Bergh, J. C. J. M. (2012). Monetary valuation of insurance against flood risk under climate change. International Economic Review, 53(3), 1005–1026. Portico.

Brander, L. M., & Koetse, M. J. (2011). The value of urban open space: Meta-analyses of contingent valuation and hedonic pricing results. Journal of Environmental Management, 92(10), 2763–2773.

Çakır, H. Y., & Edis, E. (2022). A database approach to examine the relation between function and interventions in the adaptive reuse of industrial heritage. Journal of Cultural Heritage, 58, 74–90.

Chambers, C. M., Chambers, P. E., & Whitehead, J. C. (1998). Contingent valuation of quasi-public goods: Validity, reliability, and application to valuing a historic site. Public Finance Review, 26(2), 137–154.

Cheng, L., & Yuan, Y. (2021). Intellectual property tools in safeguarding intangible cultural heritage: A Chinese perspective. International Journal for the Semiotics of Law—Revue Internationale de Sémiotique Juridique, 34(3), 893–906.

Claver, J., García-Domínguez, A., & Sebastián, M. A. (2021). Collaborative cataloging of Spanish industrial heritage assets through teaching in project management subjects. Sustainability, 13(19), 10854.

de la Torre, M (2002). Assessing the Values of Cultural Heritage: Research Report. Los Angeles: The Getty Conservation Institute.

De Simone, E., Canale, R. R., Di Maio, A. (2019). Do UNESCO world heritage sites influence international tourist arrivals? Evidence from Italian provincial data. Social Indicators Research, 146(1–2), 345–359.

Dell’Ovo, M., Dell’Anna, F., Simonelli, R., et al. (2021). Enhancing the cultural heritage through adaptive reuse. A multicriteria approach to evaluate the Castello Visconteo in Cusago (Italy). Sustainability, 13(8), 4440.

Dutta, M., & Husain, Z. (2009). An application of multicriteria decision making to built heritage. The case of Calcutta. Journal of Cultural Heritage, 10(2), 237–243.

Fouseki, K., Guttormsen, T. S., & Swensen, G. (2021). Heritage and Sustainable Urban Transformations: Deep Cities. In: Fouseki, K., Guttormsen, T., & Swensen, G. (editors). Heritage and Sustainable Urban Transformations: Deep Cities. Routledge. pp. 1–15.

Grazuleviciute-Vileniske, I. (2008). Influence of built heritage on sustainable development of landscape. Landscape Research, 33(4), 425–437.

Gummesson, E. (2006). Qualitative research in management: addressing complexity, context and persona. Management Decision, 44(2), 167–179.

High, S. (2013). “The Wounds of Class”: A historiographical reflection on the study of deindustrialization, 1973–2013. History Compass, 11(11), 994–1007. Portico.

Ishizaka, A., & Labib, A. (2009). Analytic hierarchy process and expert choice: Benefits and limitations. OR Insight, 22(4), 201–220.

Jeon, Y. H., Shin, D. C. (2010). A study of the construction of public domain through the regeneration of the industrial heritage. The Journal of Korean Architecture, 26, 11–19.

Kim, S. S., Wong, K. K. F., & Cho, M. (2007). Assessing the economic value of a world heritage site and willingness-to-pay determinants: A case of Changdeok Palace. Tourism Management, 28(1), 317–322.

Li, B., Kuang, L. (2006). Formation of industrial heritage and method of value evaluation. Architecture Creation, 9, 24–30.

Lin, H. W., Chuang, Y. C., Liu, W. Y. (2020). Assessing the economic value of an iconic urban heritage tree. Forest Policy and Economics, 118, 102216.

Lin, T., Hu, J. (2013). Study on the tourist’s perception for the authenticity of Shanghai industrial heritage. Human Geography, 28, 114–119.

Liu, W. Y., & Chuang, Y. C. (2022). To exclude or not to exclude? The effect of protest responses on the economic value of an iconic urban heritage tree. Urban Forestry & Urban Greening, 71, 127551.

Liu, X., Wang, H., Zhao, W., Ji, X. (2021). Research on evaluation and development of industrial heritage tourism resources in Textile Valley. Asian Agricultural Research, 13, 1–4.

Lu, N., Liu, M., & Wang, R. (2019). Reproducing the discourse on industrial heritage in China: reflections on the evolution of values, policies and practices. International Journal of Heritage Studies, 26(5), 498–518.

Massaro, M., Dumay, J., & Bagnoli, C. (2019). Transparency and the rhetorical use of citations to Robert Yin in case study research. Meditari Accountancy Research, 27(1), 44–71.

Pearson, M., Sullivan, S. (1995). Looking after Heritage Places: The Basics of Heritage Planning for Managers, Landowners and Administrators. Carlton: Melbourne University Press.

Rodwell, D. (2018). The historic urban landscape and the geography of urban heritage. The Historic Environment: Policy & Practice, 9(3–4), 180–206.

Saaty, T. L. (1977). A scaling method for priorities in hierarchical structures. Journal of Mathematical Psychology, 15, 234–281.

Tse, K. T., Hitchcock, P. A., Kwok, K. C. S., et al. (2009). Economic perspectives of aerodynamic treatments of square tall buildings. Journal of Wind Engineering and Industrial Aerodynamics, 97(9–10), 455–467.

Veldpaus, L., & Wacogne, R. (2021). Industrial Heritage and Conservation Planning, Changing Governance Practices, Examples from Europe. In: Stegmeijer, E., & Velandia Silva, C. A. (editors). A Research Agenda for Heritage Planning. Edward Elgar Publishing. pp. 75–85.

Vernières, M., Patin, V., Mengin, C., et al. (2012). Methods for the Economic Valuation of Urban Heritage: A Sustainability-Based Approach. Paris: Agence française de développement.

Wang, J. (2009). ‘Art in capital’: Shaping distinctiveness in a culture-led urban regeneration project in Red Town, Shanghai. Cities, 26(6), 318–330.

Xie, P. F. (2015). A life cycle model of industrial heritage development. Annals of Tourism Research, 55, 141–154.

Xu, G., Tan, L. (2019). Exploration and practice of cultivating craftsman spirit in Industrial Cities-Take Liuzhou City of Guangxi as an example. Theory Research, 12, 77–80.

Yan, Y. Q., Shen, H. J., Ye, B. H., et al. (2021). From axe to awe: assessing the co-effects of awe and authenticity on industrial heritage tourism. Current Issues in Tourism, 25(17), 2821–2837.

Yildirim, M., Turan, G. (2012). Sustainable development in historic areas: Adaptive re-use challenges in traditional houses in Sanliurfa, Turkey. Habitat International, 36(4), 493–503.

Yung, E. H. K., & Chan, E. H. W. (2012). Implementation challenges to the adaptive reuse of heritage buildings: Towards the goals of sustainable, low carbon cities. Habitat International, 36(3), 352–361.

Zhang, J., Sui, Q., Lu, Y. (2011). The preliminary study on industrial heritage value standard and suitability of reuse pattern. Architectural Journal, S1, 88–92.

Zhou, B., Li, S. (2020). Protection and development of traditional villages from the perspective of territorial spatial planning: taking Baisi Village, Henan Province as an example. Asian Agricultural Research, 12(12), 29–31.

Zhou, Y., Sun, X. (2019). Research on cooperative renewal strategy of industrial heritage regionalization in Beijing, Tianjin, Qinhuangdao, and Tangshan. Industrial Design, 7, 109–110.



  • There are currently no refbacks.

Copyright (c) 2024 Aimin Li, Wahiza Binti Abdul Wahid, Mohd Jamil Bin Mat Isa, Mengtian Lu

License URL:

This site is licensed under a Creative Commons Attribution 4.0 International License.