| Summary: | The purpose of the study was to determine the methods of successful management plan in cultural heritage sites. In addition to that, the research task was to clarification the nexus between cultural heritage and sustainable economic development in an operational and empirical manner. In the empirical part of the study, the main concern was finding out how to merge the cultural heritage sites in economic development projects for the local economy development. The methodology adopted for this study involved an innovative combination of economic and social assessment techniques. Economic assessment techniques applied included value analysis of cultural heritage sites. The study showed the culture heritage plays a significant role in the regeneration and development of local and regional areas. Contrary to expectations, the results indicated the great relationship between cultural heritage and socio-economic development to develop regional and local economy. Consistent to earlier research the study supported the hypothesis that using cultural heritage in local economic development projects. The results can be applied to cultural heritage sites and tourist destinations. Further study is required to investment of cultural heritage sites to achieve socioeconomic development.
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