Abstract
This article focuses on the empirical measurement of the values generated by an intangible cultural heritage good in the territory that hosts it, understood as a set of positive externalities internalized by the territory and its inhabitants, both permanent and visitors. Three expressions of value generated by intangible heritage are measured and identified: cultural value (emotions and feelings that are positively correlated with individual well–being), social value (possibility of intercultural dialogue between individuals) and economic value (jobs and income in the territory). The article takes as a case study a local, popular and internationally recognized cultural festival: the Petronio Álvarez Pacific Music Festival, held in the city of Cali (Colombia). A mix of instruments is used to measure the values: a face-to-face survey of attendees (n = 1,030) and non-attendees (n = 227), interviews (n = 6) with managers/organizers and an input-output model adapted to the territory defined as the area of impact of the event. These instruments make it possible to estimate accurate measures of material (economic) and non–material (social, cultural) value. These measures can be used in current debates on the contribution of culture to the economy and society of the territories.
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