Purpose This study examines how the “Echoes of a Thousand Years” Hue Tuong street festival transmits and sustains intangible cultural heritage in a UNESCO World Heritage city, exploring its effects on cultural identity, economic activity, and social cohesion. Design/methodology/approach Using a qualitative multi-method design, the researchers conducted field observations, in-depth interviews with artists, organizers, officials and attendees, two focus groups, and a survey of residents and tourists; data were analyzed through thematic coding. Findings The festival democratizes access to traditional court performances, enhances community pride and cultural awareness, and stimulates local economic and entrepreneurial activity; however, challenges in youth engagement and balancing authenticity with commercial viability remain. Originality/value By applying identity and equity frameworks to a Vietnamese street festival, this paper offers fresh insights into heritage transmission via public events and delivers practical guidance for cultural managers seeking to integrate preservation with sustainable tourism and community development.