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Department of Culture - Assignment

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Added on  2020-10-23

Department of Culture - Assignment

   Added on 2020-10-23

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Various sources are available which can be used by the businesses for the development ofchosen heritage site as one of capital project. Some of the sources for developing varioustypes of projects are discussed below: Department of Culture: This body was established for ensuring the proper maintenance ofheritage and cultural sites as well as to provide the financial assistance to the firms of traveland tourism sector. The main role of this department is to provide the required budget andfunds to the firm for the development of heritage site. From this source, huge amount ofmoney can be collected for the development of Heritage sites to promote the tourism.Regional Development Fund: It is also an important source from which the funds can begathered for the heritage site. In this, the regulatory authorities provide the required moneyif the firm is taking a capital project which is helpful in developing the region. So, it canprovide the necessary budget and support to the firm for implementing the capital project ina suitable manner. Integrated bridal ways can be developed using the regional developmentfunds for the comfort of travellers in regional or local towns.Non-Governmental Bodies: These are also available in the country for providing therequired budget and funds to firm when they took any capital project which candevelop the region or boost the economy. Non-public fundingDebt Funding: It is the process of collecting the funds or money required for capitalprojects by selling the debt instruments or assets to other firms or individual investor.For lending the money, the firm needs to pay the interest and principle amount whenthe debt will be repaid. Through this source, Theme parks can be developed as theseparks are mainly developed by private firms to earn money.Government Funding: It is the financial support provided by the government in termsof property, loan, co-operative agreements etc. which are received by the non-government organisations for the development of undertaken capital project. Crossrailway projects can be developed by using the government funds as the propertravelling facilities helps the people of small cities to connect with the big cities.Finance and Funding in the Travel and Tourism (Sources and distribution of funding for the development of capital projects associated with tourism)
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