London is a world leader in historic preservation

Global Business

May 18 Marks International Museum Day, and this year’s theme looks at cultural landscapes.

At the heart of the U.K.’s capital, the district called the City of London, also known as the Square Mile, is not only a thriving financial hub, but also a historical and cultural icon for the country.

CCTV’s Wang Wan delves into the Square Mile to look at the rich heritage that makes it a living museum.

The collection of the museum connects London’s history and reality, while more buildings around the area open the door on a living museum.

Guildhall, the City’s administrative center, holds a circle of buildings from the Medieval era to modern days. However, archaeological discoveries place it much further back in time.

The City of London invests over 70 million euro ($78 million) a year in arts and culture.

Research in 2014 found that the net economic impact of the City’s arts and culture is worth 247 million euro ($277 million).

Millions of tourists crowd into the financial center each year.

Find your International Museum Day activity around the globe on below map from The World Museum Community.

Italy to spend over $1B to update its landmarks

Italy plans to pump one billion euros ($1.12 billion) into its ailing heritage sites after decades of neglect.

That as the European Union says it’s pulling some funding for Italian restoration projects due to mismanagement of funds.

CCTV America’s Guy Henderson reports from southern Italy.
Follow Guy Henderson on Twitter @guyhendersonde

Money has been pledged to 33 similar sites to these across Italy, something the government says is the largest investment of its kind since 1946.

The director of what is Europe’s largest former royal residence is confident new money will come this time.

Joanna Woronkowicz on the future of museums around the world

Funding cultural institutions and landmarks is an issue in many countries. And the struggling museum industry is a proof of that.

To find out what is the future of museums, CCTV America’s Rachelle Akuffo spoke to Joanna Woronkowicz from the school of Public and Environmental Affairs at Indiana University.
Follow Rachelle Akuffo on Twitter @RachelleAkuffo