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Autor
Vanhove Norbert (Catholic University Leuven)
Tytuł
Consumer surplus and macro valuation of tourism projects
Źródło
The Poznań University of Economics Review, 2013, vol. 13, nr 4, s. 46-66, rys., tab., bibliogr. 26 poz.
Słowa kluczowe
Metodyka wyceny, Analiza kosztów i korzyści (AKK), Wewnętrzna stopa zwrotu, Wartość zaktualizowana netto, Turystyka
Valuation methodologies, Cost-benefit analysis (CBA), Internal Rate of Return (IRR), Net present value (NPV), Tourism
Abstrakt
There cannot be a tourism industry without projects. These projects can take different forms, such as development of attractions, accommodation, entertainment, transport, new resorts, congress centre, events, ski infrastructure, etc.. They all involve considerable investment. This paper 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. Indeed many projects belong to the general tourism infrastructure, and the benefits do not only accrue to the paymaster, who may not consider the negative effects. In other words, externalities must be taken into account. A third section deals with the identification of cost and benefit items or the cost-benefit scheme. 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 (net present value) and IRR (internal rate of return). In a fourth part we pay special attention to the valuation of the consumer surplus of non-priced tourism resources and more particularly to two methods often applied to measure the consumer surplus: 'The Travel Cost Method' and 'The Contingent Method' A fifth part of the paper is focused on CBA versus economic impact analysis. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Bibliografia
Pokaż
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  2. Bull, A., 1995, The Economics of Travel and Tourism, Longman, Sydney.
  3. Burgan, B., Mules, T., 2001, Reconciling Cost-benefit and Economic Impact Assessment for Event Tourism, Tourism Economics, no. 4, pp. 321-330.
  4. Dwyer, L., Forsyth, R, Spurr, R., 2006, Economic Evaluation of Special Events, in: Dwyer, L., Forsyth, R (eds.), International Handbook on the Economics of Tourism, Edward Elgar, Cheltenham.
  5. Forsyth, R, Dwyer, L., 2007, State Investment in Major Events: Integrating Economic Modelling with Cost Benefit Analysis, 10th Biennial Conference of LAST, Mugía.
  6. Greiner, R., Rolfe, J., 2004, Estimating Consumer Surplus and Elasticity of Demand of Tourist Visitation to a Region in North Queensland Using Contingent Valuation, Tourism Economics, no. 3.
  7. Herath, G., Kennedy, J., 2004, Estimating Value of Mount Buffalo National Park with the Travel Cost and Contingent Valuation Models, Tourism Economics, no. 1.
  8. Herrero, L., Sanz, J., Devisa, M., 2011, Measuring the Economic Value and Social Viability of Cultural Festival as a Tourism Prototype, Tourism Economics, no. 3.
  9. Keller, R, 2006, Innovation and Tourism Policy, in: OECD, Innovations and Growth in Tourism, OECD Publishing, pp. 17-40.
  10. Mishan, E.J., 1994, Cost-benefit Analysis, Routledge, London.
  11. Oslo Manual, 2008, Zasady gromadzenia i interpretacji danych dotyczqcych innowacji, Organizacja Wspólpracy Gospodarczej i Rozwoju, Urz^d Statystyczny Wspólnot Europejskich, wydanie polskie, Ministerstwo Nauki i Szkolnictwa Wyzszego, Warszawa.
  12. Pearce, D.W., 1983, Cost-benefit Analysis, 2nd ed., Macmillan, London.
  13. Prest, A., Turvey, R., 1967, Cost-benefit Analysis: a Survey, Surveys of Economic Theory, vol. II, Macmillan, London.
  14. Ryan, C, 1998, Economic Impacts of Small Events: Estimates and Determinants - a New Zealand Example, Tourism Economics, no. 4, pp. 339-352.
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  16. Sassone, E, Schaffer, W.A., 1978, Cost-benefit Analysis: A Handbook, Academic Press, London.
  17. Scherly, E, Breiter, M., 2002, Impact économique des grandes manifestations sportives en Suisse, Etude de cas Athletissima' Lausanne 200. HEC Lausanne, Lausanne.
  18. Stabler, M., Papatheodorou, A., Sinclair, T., 2010, The Economies of Tourism, 2nd ed., Routledge, London.
  19. Sugden, R., Williams, A., 1988, The Principles of Practical Cost-benefit Analysis, Oxford University Press, Oxford.
  20. Tisdell, C, 2006, Valuation of Tourism's Natural Resources, in: Dwyer, L., Forsyt, P. (eds.), International Handbook on the Economics of Tourism, Edward Elgar Publishing, Cheltenham.
  21. Tisdell, C, Hartley, K., 2008, Microeconomic Policy: A New Perspective, Edward Elgar Publishing, Cheltenham.
  22. US Government, Federal Inter-Agency River Basin Committee, Subcommittee on Benefits and Costs, 1950, Proposed Practices for Economic Analysis of River Basin Projects (The Green Book), US Government, Washington.
  23. Vanhove, N., 2003, Externalities of Sport and Tourism Investments, Activities and Events, in: Keller, R, Bieger, T. (eds.), Sport and Tourism, 53rd AIEST Congress, St-Gall: AIEST, Athens.
  24. Vanhove, N., 2011, The Economics of Tourism Destinations, 2nd ed, Elsevier, Amsterdam.
  25. Vanhove, N., 2013, Tourism Projects and Cost-benefit Analysis, in: Tisdell, C. (ed.), Handbook of Tourism Economics. Analysis, New Applications and case Studies, World Scientific, New Jersey.
  26. WES, 1971, Micro en macro economische rendabiliteit van een congresgebouw in Brugge, WES, Brugge
Cytowane przez
Pokaż
ISSN
1643-5877
Język
eng
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