Three Tier Approach - An Ideology for Ecotourism Development and Economic Sustainability
18 Pages Posted: 22 Dec 2015
Date Written: December 7, 2015
Ecotourism – a modern development ideology helps in building competitiveness, developing skills, managing income and expenditure to bring balance in social, environmental and economic objectives. When we talk about economic and environmental sustainability, improving quality of life and well-being of the local community we need to focus on sustainable management of natural resources. To understand the same this paper throws light upon the three tier approach of ecotourism development for economic sustainability which includes applications of tragedy of commons, prisoner’s dilemma and Pareto efficiency. Ecotourism can be one of the best options as far as rural and sustainable development are concerned. Investment in these types of projects helps to improve our environment, and expand communities’ economic opportunities - something which can be called as a win-win strategy. We need to adopt innovative eco-friendly strategies of development. Ecotourism is one of the most important segments of the tourism industry and it can be sustainable economic and environmental solution provided its ecological aspects are managed effectively. This paper provides practical aspects based on theoretical variables on the subject.
Keywords: Ecotourism, Tragedy of commons, Prisoner’s Dilemma, Pareto Efficiency, Economic Sustainability
JEL Classification: O14, Z32
Suggested Citation: Suggested Citation