Relationship Between Preservation of Built Cultural Heritage and Economic Development in Lisbon and Porto: Cultural Legacy and Urban Revitalization as Serial Mediation Mechanisms

The preservation of built cultural heritage (PBCH) plays a vital role in fostering economic development by stimulating and revitalizing urban spaces. This study, conducted in the Portuguese cities of Lisbon and Porto, evaluated the impact of PBCH on urban economic growth, emphasizing the roles of cultural legacy and urban revitalization as serial mediators. Employing a cross-sectional, quantitative approach grounded in a hypothetico-deductive methodology, data were collected from 633 tourists aged 18 to 73 years (57.2% female) via a structured questionnaire. The findings demonstrated that PBCH, cultural legacy, and urban revitalization significantly contribute to regional economic development. Moreover, cultural legacy partially mediates the relationship between heritage preservation and urban revitalization, indicating a positive indirect effect. A serial mediation mechanism—where two mediators operate in a specific causal order, linking the independent variable (PBCH) to the dependent variable (economic development) through cultural legacy followed by urban revitalization—was identified. A comparative analysis of the indirect effects highlighted that cultural legacy has a stronger mediating influence than urban revitalization alone, although the combined serial effect proved to be the most substantial. This research underscores the critical role of PBCH as a driver of economic progress, facilitated through its intertwined relationships with cultural heritage and urban renewal, offering valuable insights for policymakers and stakeholders in urban development