The Regional Economic Effects of the Austrian Burghauptmannschaft

This study analyses the budgetary possibilities of the Burghauptmannschaft Österreich (BHÖ) and provides an estimate of the overall economic benefits of investments in the preservation and operation of historic buildings by the BHÖ. With an average annual budget of 63 million € (2020-2024) and (structural) investments of making up around two thirds of these funds, it generated around 123 million € per year in value added (direct, indirect and induced effects) in the period analysed. This meant that an average of around 930 jobs were utilised each year, almost 140 of which were in the Burghauptmannschaft itself. The contribution to the gross domestic product (added value including taxes on goods) is estimated at over 130 million € per year. The analysis of the economic effects of investments in the preservation of cultural heritage by the BHÖ shows both direct and indirect economic effects, but without taking into account the specific characteristics of the portfolio. BHÖ's properties, such as the Hofburg and Schönbrunn Palace, have considerable cultural and historical value, which attracts tourists and contributes to the local economy. Cultural tourism generates additional income from overnight stays, gastronomy and retail, which further increases the economic impact of the BHÖ portfolio.