Exploring Innovative Approaches to Managing Cultural Heritage for Economic Benefit

Cultural heritage management is essential for protecting the historical and cultural significance of sites while contributing to economic growth. This study's objective is to ascertain and evaluate modern management techniques for heritage sites that maximize economic benefits while ensuring sustainable protection. It seeks to discover methods that effectively stabilize heritage conservation with economic development goals. This study investigates the relationship between Economic benefits, Cultural preservation, Public Engagement, Community Impact, Sustainability of Management Practices, and Innovative approaches to managing cultural heritage utilizing Partial Least Squares Structural Equation Modeling (PLS-SEM). A systematic questionnaire with a Likert scale rating was used to collect data from 450 populations. The measurement model assessed the validity and reliability of latent constructs, while the structural model analyzed the relationship between constructs based on the proposed hypotheses. The structural model revealed that EB, CP, and SMP are positively connected to the IMCH, between cultural heritages for economic benefit. (β = 0.55,0.50,and 0.56,p < 0.05), providing well support for hypothesis 1, 2, and 5. The result shows there are no significant changes to managing cultural heritage for economic benefit.