Non-Financial Compensations: A Proposal to Refurbish the Old Residential Buildings in Benidorm (Spain)

Abstract

The aim of this paper is to propose an urban intervention in the downtown of a very important tourist city, Benidorm (Spain), taking into account the scarce public funds and the financial crisis as a whole. The core of Benidorm, the most important area for tourism activity, is showing an old-fashion image, with hardly renovation during the last decades. Hence, it is necessary to refurbish the centre of the city dealing with the scarce funds. For that reason, a market-oriented instrument, specifically ‘non-financial compensation’ instruments, will be suggested to regenerate some specific areas through studying other urban renovations along the world. Firstly, the paper will describe the main characteristics of Benidorm in terms of urban evolution, tourism activity and recent problems related to old buildings located in the core of the city. Next, some international cases where non-financial compensations have been applied will be exposed as a reference to implement in Benidorm. Finally, a proposal to refurbish the old buildings in the centre of Benidorm will be drafted considering those international experiences.