Factors Determining the Sustainable Success of Community-BasedTourism: Evidence of Good Corporate Governance of Mae Kam PongHomestay, Thailand

Bungon Sawatsuk, I Gede Darmawijaya, Sirikiet Ratchusanti and Ariya Phaokrueng
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Bungon Sawatsuk: University of Phayao, Mae Ka, Phayao, Thailand
I Gede Darmawijaya: STP Bali, Bali, Indonesia
Sirikiet Ratchusanti: University of Phayao, Mae Ka, Phayao, Thailand
Ariya Phaokrueng: University of Phayao, Mae Ka, Phayao, Thailand

International Journal of Business and Economic Affairs (IJBEA), 2018, vol. 3, issue 1, 13-20

Abstract: To be sustainable, tourism businesses essentially o er the genuine ways of how people live their lives. It isthe community itself that should be empowered based on the wisdoms that they have been practicing from generation togeneration. In tourism, experts termed it as Community-Based Tourism (CBT). CBT is a aims at attracting touriststo experience the uniqueness of community way of life as what have been done by the people of Mae Kam Pong inmanaging their village tourism, especially their homestays. This research aimed at promoting the best practices of goodcorporate governance of the management of Mae Kam Pong homestays in Chiang Mai Thailand. In-depth interviewswith the homestays owners and the head of the village as the manager and the leader of the homestay businesses wereused as a method of data collections. The parameters used in assessing the governance of the homestay managementwere clear strategy, e ective risk management, discipline, fairness, transparency, social responsibility, and self-evaluation(Mack,2010). Based on the triangulation technique conducted, it was revealed that the Leader of Mae Kam Pong villagee ectively adopted and implemented the concepts of good corporate governance in managing homestays. The utmostkey success factors were the sincere intention and perseverance of the head of the village to improve the quality of life ofthe people. His noble interest vanished all the obstacles he encountered at the beginning of the initiation of the villagetourism development.

Keywords: CBT; Corporate governance; Homestay (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:aya:ijbeaa:2018:p:13-20

DOI: 10.24088/IJBEA-2018-31002

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