TOURISM PROJECTS AND COST-BENEFIT ANALYSIS

Norbert Vanhove
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Norbert Vanhove: University KULeuven, Belgium

Chapter 18 in Handbook of Tourism Economics:Analysis, New Applications and Case Studies, 2013, pp 393-415 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractIn tourism, more than in any other sector, the investor in a big project is neither a company nor a tourism entrepreneur but the public sector. Indeed, many projects belong to the general tourism infrastructure, and the benefits do not only accrue to the paymaster, who may also consider their negative effects. In other words, externalities must be taken into account. This chapter focuses on five topics. First, it focuses on the nature of investment appraisal and explores the difference between micro and macro approaches. Secondly, attention is paid to externalities in tourism. The third section deals with the identification of cost and benefit items or the cost-benefit scheme, where Environmental costs are an important part of the scheme. In the same section, we proceed with the quantification and valuation of cost and benefit items and the calculation of the NPV and IRR. A fourth part of this chapter is focused on CBA versus economic impact analysis. In a last section, we illustrate the application of CBA in the tourism sector with a practical example.

Keywords: Accommodation and Tourism; China; Congestion and Tourism; Cost-Benefit Analysis of Tourism; Cruise Ship Tourism; Cultural and Heritage-Based Tourism; Demand for Touring; Economic Development and Tourism; Economic Impact Analysis of Tourism; Ecotourism; Educational Tourism; Environmental Conservation and Tourism; Ergodic Events and Tourism; Gambling and Tourism; Health and Tourism; India; Information Technology and Tourism; Infrastructure and Tourism; Inter-Industry Analysis of Tourism; International Tourism; Medical Tourism; National Parks and Tourism; Nature-Based Tourism; Pollution and Tourism; Protected Areas and Tourism; Public Finance and Tourism; Religious Tourism; Special Events and Tourism; Sustainable Tourism; Terrorism and Tourism; The Environment and Tourism; Theme Parks; Tourism; Tourism Economics; Tourism Industry; Tourism Satellite Accounts; Transport and Tourism; Travel; Travel Insurance; Vietnam (search for similar items in EconPapers)
Date: 2013
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