Rome's Iconic Colosseum Has Been Given a ‘Social Value’

You don’t typically see a financial value attributed to world heritage sites, such as Rome’s iconic Colosseum. But a new study by financial consultancy group Deloitte has placed a ‘social value’ on the amphitheater at $79b USD.

The survey wasn’t measured by the financial returns that the site brings to the city of Rome, but rather the cultural value “perceived by most Italians, and not just those who visit it,” per the report. Or in other words, the value was determined by the financial contributions average Italian citizens would pay to preserve the Colosseum, even if they make “no direct use of it, may not benefit even indirectly from it, and may not plan any future use for themselves or others,” the report added.

According to Marco Vulpiani, who led the survey at Deloitte Central Mediterranean:

“For an iconic asset like the Colosseum, it is necessary to refer in fact to a dimension of value that includes both tangible and intangible value. In this sense, the immaterial value of the Colosseum may be greater than the value related to the economic benefits it can produce.”

Completed nearly 2,000 years ago in the year 80 BCE, Rome’s Colosseum is the largest standing amphitheater in the world and generates nearly $1.4b USD a year to Italy’s GDP.

In related news, The Met is showcasing a new exhibition that depicts Greco-Roman sculptures in rich color.