Illusion of 'Bilbao effect'

Bilbao is commonly associated with the phenomenon determined as the ‘Bilbao effect’ and the Guggenheim Museum. The transformation of brownfields that is based on the misconceptions of planning inadequate marketing activities as well as failure to provide the continuity of financing bear the consequences of a slowdown in the development of the given city. In spite of the incurred high initial costs and realization of spectacular architecture the situation of the degraded region is not improving. Where the mistakes are made?