The Power of Tangible and Intangible Cultural Heritage in Shaping Cultural Economy and Prosperity: An Inspirational Case Study of İstanbul and Paris

Numerous studies indicate that tangible and intangible cultural heritage drives sustainable development. Over the past forty years, UNESCO has emphasized several pieces of advice, and standards norms of urgent safeguarding of intangible heritage and protecting tangible heritage from climate change and other threats. The World Bank supports projects to promote resilient cultural heritage and sustainable tourism to mitigate damage to tangible cultural heritage caused by earthquakes, landslides, floods, and other hazards. The World Bank and UNESCO have worked together since 2021 to support the cultural industry and creativity in cities to empower cultural tourism and employment. According to UNWTO, cultural heritage in international tourism fosters peace and understanding by promoting respect for diverse cultures. In Chiang Mai, northern Thailand, thousands of tourists gather for the Yi Peng festival, which occurs every November on the full moon day. This festival signifies the transition from the rainy season to the harvest season. With glowing paper lanterns, traditional dance performances, vibrant parades, and Thailand's most popular dish, Pad Thai, the festival serves as a symbol of prosperity. The Louvre Museum in Paris, one of the most visited museums in the world, is a significant cultural institution representing an important part of France's tangible cultural heritage. Istanbul serves as a bridge between civilizations, showcasing the cultural heritage of various periods that connect Europe and Asia. Istanbul Pera Museum stands out from typical history and archaeology museums, highlighting art and cultural events that reflect the city’s diverse history. This study examines the significance of tangible and intangible cultural heritage within the context of the cultural economy, highlighting its crucial role as a driver of sustainable development. In this article, the author makes details with the case study of Istanbul and Paris's tangible and intangible cultural heritage contribute to the cultural industry. These two cities have successfully integrated their cultural heritage into their economic strategies, but challenges in the potential benefits that arise from this approach in achieving long-term sustainability