@article{Tisdell:145217,
      recid = {145217},
      author = {Tisdell, Clement A.},
      title = {Investment in Ecotourism: Assessing its Economics},
      address = {1995-05},
      number = {1740-2016-140463},
      series = {Biodiversity Conservation: Studies in its Economics and  Management, Mainly in Yunnan, China},
      pages = {16},
      year = {1995},
      abstract = {After briefly defining ecotourism, factors affecting the  demand for it, its relative growth and its value for nature  conservation are discussed. There has been an upsurge in  interest in ecotourism as a possible profitable means to  ensure sustainable ecological development. However,  investment in ecotourism does not always have the  favourable consequences claimed for it. Investment in  ecotourism may fail to give a favourable private return for  reasons outlined. Factors to be taken into account in  assessing private profitability of investment in ecotourism  and the likely demands for it at a site are examined.  Assessment of social returns from investment in ecotourism  are made on a wider basis than the determination of private  returns. All investment for the development of ecotourism,  whether privately incurred or not, is taken into account  along with any external benefits or costs generated. It may  also be necessary in calculating social return to include  an allowance for increased consumers' surplus obtained by  ecotourists from investment in ecotourism. The user-pays  principle is discusssed because social return is not  necessarily dependent on payments. Nevertheless tourism  development has to be financed and one source of finance is  payments by tourists. The transaction costs involved in  imposing fees affects the economics of charging and means  to reduce such costs are considered. In conclusion, it is  pointed out that investment in ecotourism is liable to  cause damage to natural environments and offset policies  are proposed as a way to compensate for this.},
      url = {http://ageconsearch.umn.edu/record/145217},
      doi = {https://doi.org/10.22004/ag.econ.145217},
}