I had privilege to be a part of 4th INTERNATIONAL MULTIDISCIPLINARY SCIENTIFIC CONFERENCE ON SOCIAL SCIENCES AND ARTS S G E M 2 0 1 7 that took place from 24th to 30th of august in Congress Centre Paradise Blue in Bulgaria.
SGEM Conferences are well known and recognized as one of the most prestigious events in the International Scientific World.
After double blind review process, my research paper ECONOMIC VALUATION OF ENVIRONMENTAL RESOURCES INTEGRATED IN TOURISM PRODUCT – METHODOLOGICAL APPROACHES, has been accepted for publishing in the Conference Proceedings (VOLUME IV – ECONOMICS & TOURISM, ISBN 978-619-7408-16-4, ISSN 2367-5659 DOI: 10.5593/sgemsocial2017/14) indexing by ISI Web of Knowledge, Web of Science, Thomson Reuters, ELSEVIER products, CrossRef, EBSCO, ProQuest, RSCI (РИНЦ), Google Scholar, Mendeley, CiteUlike, CrossRef Citedby Linking, British Library.
Mandić, A., 2017. Economics valuation of environmental resources integrated in tourism product – methodological approaches. 4th INTERNATIONAL MULTIDISCIPLINARY SCIENTIFIC CONFERENCE ON SOCIAL SCIENCES AND ARTS S G E M 2 0 1 7. CONFERENCE PROCEEDINGS, VOLUME IV – ECONOMICS & TOURISM, ISBN 978-619-7408-16-4, ISSN 2367-5659 pp. 277-287. DOI: 10.5593/SGEMSOCIAL2017/14/S04.037
The main purpose of this research is to identify different methodological approaches that can be used in economics to evaluate environmental resources that are integrated in tourism product. Environmental resources form essential physical plant for tourism development. It would be almost impossible to imagine tourism product that does not integrate, directly or indirectly natural resources. Strong expansion of tourism development, reflected in significant increase in number of international visitors, same as accepting tourism development as developing paradigm for many national economies, has resulted in increasing pressure on environment. At the same time natural resources and natural capital, are seen as a major factor of economic development and threatened categories. Therefore, UNWTO and UNDP encourage acceptance of the paradigm of sustainable development, and integration of its principals in key national strategic documents. Latter requires giving special attention to all those natural resources that are integrated in tourism product. Therefore, their economic valuation has become key research area of contemporary environmental economy and tourism development studies. Detecting their value and influence remains the main challenge, considering that natural and environmental resources are mostly not traded on tourism market. Last decade has witnessed several methodological approaches that can be used in order to estimate value and impacts of natural and environmental resources essential for tourism development. This paper focuses on identification and critical interpretation of those key methodological approaches in context of environmental economics and tourism development; and giving guidelines for future research. Based on conducted research, it is essential to highlight two main approaches: (1) reveal preference approach and (2) stated preference approach. Considering economic value, it can be concluded that not all methods reveal TEV (total economic value). The selected methodological approach, and therefore captured value will mostly depend on type and basic purpose of research.
Keywords: economic valuation, environmental resources, natural capital, methodological approaches, tourism development.