They are designed to attract tourists, boost the economy and awaken civic pride. But are these expensive signature buildings worth the money? Does the much-vaunted Bilbao effect really exist?

How can a single building change the fate of an entire city? The Guggenheim Museum in Bilbao is more than just an architectural masterpiece—it sparked an economic and cultural revolution known ...

The effect is jaw-dropping – a building of titanium ... “This is what the parable of Bilbao offers.” ...