Management Practices of the Cultural Heritage Capitalization in the Creative Economy

Abstract

The authors carry out a comparative analysis of management practices regional development due to the capitalization of cultural resources on the example of three European cultural centers – Stratford-upon-Avon, Weimar and Yasnaya Polyana. Structure relationship of key development actors within each of the three regions were analyzed by the method of «Environmental Profile, a comparative analysis was conducted using the theory of stakeholders, as well as territorial benchmarking. The au thors conclude that the tourist industry has become a key tool for the capitalization of cultural heritage in all three regions. Management practice of capitalizing on the cultural heritage should ensure the transformation of the place into a «tourist destination », a friendly and comfortable environment inseparable from the attractive cultural value of this place. Comparative analysis of the life-cycle stages of development destinations in Stratford, Weimar and Yasnaya Polyana was held to learn how they helped enpower tourism flows and increase profits of the creative economy. The authors show that successful modern tourist destinations implement multi-stakeholder management practices to ensure the formation of unique comfortable and accessible landscapes for both tourists and local residents.