Exploitation of Local Assets: Prerequisites for Success

Abstract

Natural and Cultural Heritage, including intangible cultural heritage, are precious assets for local development in many districts and local communities which could be significantly beneficial for them. In many cases, Local Authorities use funding programs from the State, European Union or other sources for investments to exploit such assets. Such public investments for exploitation activities are planned and incorporate description of parameters of sustainability, feasibility analysis and many times master plans, place branding plans, marketing plans and business plans. In many cases, especially in small and medium size local authorities, but not only, it is found out that such approach remains theoretical and although it could be realistic, it is distant from the actual performance. In this paper, we examine a case where a local authority did proceed with such an investment to exploit a specific mixed natural and cultural asset and we determine factors that are prerequisites for the successful and sustainable tourism development related to that asset. Success factors include a holistic approach, the devotion of appropriate people in the management and marketing of the asset, a road map linked to the deployment of the short and medium term marketing plan, the selection of the appropriate indicators and methodology of measuring. Furthermore, we do examine the importance of the involvement of all stakeholders, without exclusions.
  
  
 Keywords: local development, sustainability, cultural and natural heritage