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Are Tourists Willing to Pay for Aesthetic Quality? An Empirical Assessment from Krabi Province, Thailand

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  • Michelle Catherine Baddeley

    (Director of Studies and College Lecturer (Economics), Gonville and Caius College and Faculty of Economics and Politics, University of Cambridge, Cambridge CB2 1TA, UK)

Abstract

This paper assesses the relationships between the viability of the tourism industry and willingness to pay for aesthetic aspects of environmental quality. Incentives to provide high-quality tourism are limited given asymmetric information, adverse selection and positive search costs, with implications both for the sustainability of the tourism industry and for environmental sustainability more broadly defined. An econometric model is estimated in which willingness to pay is captured using resort rents and related to aesthetic quality, after controlling for service levels. A negative relationship is found. Some policy issues are assessed, focusing on the implications for tourism as an engine for sustainable development.

Suggested Citation

  • Michelle Catherine Baddeley, 2004. "Are Tourists Willing to Pay for Aesthetic Quality? An Empirical Assessment from Krabi Province, Thailand," Tourism Economics, , vol. 10(1), pages 45-61, March.
    • Handle: RePEc:sae:toueco:v:10:y:2004:i:1:p:45-61
    DOI: 10.5367/000000004773166583
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    References listed on IDEAS

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    1. Carl Shapiro, 1983. "Premiums for High Quality Products as Returns to Reputations," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(4), pages 659-679.
    2. Twan Huybers & Jeff Bennett, 2000. "Impact of the Environment on Holiday Destination Choices of Prospective UK Tourists: Implications for Tropical North Queensland," Tourism Economics, , vol. 6(1), pages 21-46, March.
    3. Steven Salop, 1977. "The Noisy Monopolist: Imperfect Information, Price Dispersion and Price Discrimination," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 393-406.
    4. M. Thea Sinclair, 1997. "Tourism and Economic Development: A Survey," Studies in Economics 9703, School of Economics, University of Kent.
    5. Clem Tisdell, 2001. "Tourism Economics, the Environment and Development," Books, Edward Elgar Publishing, number 1972.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
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    Cited by:

    1. Nicolae Lupu & Mihail Ovidiu Tanase & Remus-Alexandru Tontoroiu, 2013. "A straightforward x-ray on applying the ecolabel to the hotel business area," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(Special 7), pages 634-644, November.
    2. Pedro Pintassilgo & João Albino Silva, 2007. "‘Tragedy of the Commons’ in the Tourism Accommodation Industry," Tourism Economics, , vol. 13(2), pages 209-224, June.
    3. V. Santhakumar, 2009. "Entry Fees as an Instrument for Environmental Management: Study of a Wildlife Park in Kerala, India," Tourism Economics, , vol. 15(2), pages 453-466, June.
    4. José Luis Durán-Román & Pablo Juan Cárdenas-García & Juan Ignacio Pulido-Fernández, 2020. "Tourist Tax to Improve Sustainability and the Experience in Mass Tourism Destinations: The Case of Andalusia (Spain)," Sustainability, MDPI, vol. 13(1), pages 1-20, December.

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