THE IMPACT OF TANGIBLE HERITAGE TOWARDS HISTORIC BUILDING USAGES IN THE GEORGE TOWN UNESCO WORLD HERITAGE SITE IN PENANG, MALAYSIA
DOI:
https://doi.org/10.21837/pm.v23i38.1848Keywords:
Economic Value, Tangible Heritage treasures, Historical Building Usages, Sustain, Cultural Heritage, George Town UNESCO World Heritage Site Penang, MalaysiaAbstract
This study endeavors to explore the economic significance of tangible heritage treasures, examining their positive and negative ramifications, as well as their conservation and preservation for sustainable development. A framework analysis was employed to gather data from both local and international traders. Findings derived from qualitative methods revealed that the economic value of tangible heritage treasures, as manifestations of living cultural heritage, is particularly evident within the George Town UNESCO World Heritage Site, which functions as a specialized market treated as a monetary asset. This dynamic engenders both advantageous and detrimental financial effects on the utilization of historical buildings in George Town, highlighting the unique architectural heritage as a valuable asset for residential and commercial purposes. The potential for adaptive reuse for business ventures necessitates ongoing maintenance as a critical aspect, while challenges such as gentrification, which displaces long-standing residents in favor of wealthier individuals, underscore the importance of preserving built heritage. Moreover, the imperative to conserve and protect these assets for sustainability is evident, with the enhancement and upkeep of built heritage being essential for both survival and the viability of sustainable enterprises. The results illuminate the perspectives of the local community and foreign visitors, offering constructive suggestions for improvement and insights into the future of heritage sites, particularly in light of the impacts of Covid-19 and the strategies for overcoming these challenges in the George Town World Heritage Site.
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