Evaluating the Economic Viability of Public Investments in Tourism

Author:

Banerjee OnilORCID,Cicowiez Martin,Moreda Adela

Abstract

AbstractVarious methods have been applied to evaluating the economic viability of public investments in tourism. In this article, we capitalize on the strengths of computable general equilibrium and cost-benefit analytical techniques and develop an integrated approach to evaluating public investments in tourism. We apply the approach to the evaluation of a US$6.25 million investment in tourism in Uruguay from the perspective of a multilateral development bank and a beneficiary government. These perspectives differ in a cost-benefit analysis (CBA) due to the timing of the costs incurred. The integrated approach is powerful in that it captures first and subsequent rounds of investment impacts of benefits and costs; resource diversion and constraints are accounted for, and the estimation of benefits is consistent with the welfare economics underpinnings of CBA.

Publisher

Cambridge University Press (CUP)

Subject

Public Administration,Economics and Econometrics,Sociology and Political Science

Reference55 articles.

1. Banerjee, O. , and Cicowiez, M . 2019. Frontiers in the Economic Analysis of Public Investment in Tourism (In Preparation).

2. Reconciling Cost—Benefit and Economic Impact Assessment for Event Tourism

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