The relevance of urban heritage today can be assessed not just in its aesthetic and historical value but also economically through the generation of employment, the growth of tourism as well as other direct and indirect incomes generated by it. This production through tangible and intangible means further highlights the inter-linkages between the built form and the economic fabric of cities. However, competing claims for limited land coupled with changing urban political economies often end up requiring heritage to continuously struggle to justify its significance. It is in this context, assessing the economic value of urban heritage becomes particularly important in order to understand its impacts and the consequent benefits generated by it. Methodologies for conducting heritage impact assessments remain limited in their applicability and approach due to origins in developed economies. Urban heritage in India requires an approach capable of capturing the multiple layers in its economy, particularly with respect to the informal. This paper presents preliminary findings of a heritage impact assessment conducted on two sites in the city of Jaipur. Primary fieldwork was conducted at the Jantar Mantar and the old market area of the city using the ‘Direct & Indirect Impact’ method under a macroeconomic approach. The method’s original framework was adapted to the specific context through the addition of questions and observations pertaining to the economic, social and human costs generated. It evaluated the economic value of these two sites through the direct and indirect impacts generated via the sale and production of goods, arts and crafts. Application of the method helped unearth significant economic value that could be an effective support for arguing to conserve urban heritage.
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