Cultural values play a significant role in the context
of rural livelihoods. Rural livelihoods are fundamentally
determined by the capabilities of people and their cultural
practices, values, norms, customs, knowledge and belief
systems that are preserved through generations. The aim of this
paper is to understand and explore the intricate relationship
between livelihood assets and local cultural values with respect
to building secured asset portfolios of rural communities.
Empirical evidences are drawn from field research undertaken
in 2008/09 in rural villages in Kandy, Sri Lanka. The ways in
which villagers construct their livelihoods in their villages are
multiple and there are significant traditional components, which
facilitate their resource accessibility and ownership. Cultural
traditions are treated as a resource that strengthens social
assets and the solidarity of villages. Although the opportunities
may be fewer, traditional skills and knowledge are considered
important as a source that strengthens human assets. Locally
shared cultural values and norms also play a significant role in
defining community problems. However, the extent to which
cultural values facilitate and impede asset entitlement may vary
among communities. The paper recognises culture as a capital
asset which is fundamental in building a secure and sustainable
asset portfolio, encompassing all tangible and intangible values
embedded in human society, enabling and empowering rural
people