IDEAS home Printed from https://ideas.repec.org/a/sae/toueco/v23y2017i8p1568-1580.html
   My bibliography  Save this article

An integrated model for evaluating investments in cultural heritage tourism in the Dominican Republic

Author

Listed:
  • Onil Banerjee

    (Inter-American Development Bank, USA)

  • Martin Henseler

    (Le Havre University, France; Partnership for Economic Policy (PEP), Kenya)

  • Hélène Maisonnave

    (Le Havre University, France; Partnership for Economic Policy (PEP), Kenya)

  • Lulit Mitik Beyene

    (Institute for Economic and Social Development Research (IESD Research), Ethiopia; Partnership for Economic Policy (PEP))

  • Mercedes Velasco

    (Inter-American Development Bank, USA)

Abstract

In the Dominican Republic, tourism represents a significant share of growth domestic product. Improving and increasing cultural heritage tourism opportunities offer potential for tourism product diversification which can expand the visitor base, increase tourism expenditure, and ultimately contribute to enhanced economic growth and development for tourism dependent economies. This study presents an integrated economic bottom-up model for tourism investment analysis. The framework links simulation models and valuation approaches from different economic research fields including economy-wide modelling, time series modelling, stated preference approaches, and net present value analysis. Applied to the analysis of an investment for enhancing cultural heritage tourism in the Colonial City of Santo Domingo, the integrated model generates valuable insights on the transmission pathways through which investment in cultural heritage tourism can accelerate economic growth, generate employment, and raise incomes. The framework presented here can be developed and applied to other country contexts where decision makers have similar interests in investing and diversifying the tourism opportunities available to visitors.

Suggested Citation

  • Onil Banerjee & Martin Henseler & Hélène Maisonnave & Lulit Mitik Beyene & Mercedes Velasco, 2017. "An integrated model for evaluating investments in cultural heritage tourism in the Dominican Republic," Tourism Economics, , vol. 23(8), pages 1568-1580, December.
    • Handle: RePEc:sae:toueco:v:23:y:2017:i:8:p:1568-1580
    DOI: 10.1177/1354816617713229
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/1354816617713229
    Download Restriction: no
    File URL: https://libkey.io/10.1177/1354816617713229?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Burnett, Perry & Cutler, Harvey & Thresher, Ray, 2007. "The Impact of Tourism for a Small City: A CGE Approach," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 37(3), pages 1-10.
    2. Zadel, Zrinka & Bogdan, Sinisa, 2013. "Economic Impact Of Cultural Tourism," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 4(3), pages 355-366.
    3. Larry Dwyer & Peter Forsyth & Ray Spurr, 2003. "Inter-Industry Effects of Tourism Growth: Implications for Destination Managers," Tourism Economics, , vol. 9(2), pages 117-132, June.
    4. David G. Blanchflower & Andrew J. Oswald, 1995. "An Introduction to the Wage Curve," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 153-167, Summer.
    5. Banerjee, Onil & Cicowiez, Martin & Gachot, Sebastien, 2015. "A Framework for Ex-Ante Economic Analysis of Tourism Investments: An Application to Haiti," IDB Publications (Working Papers) 7238, Inter-American Development Bank.
    6. Clemente Polo & Elisabeth Valle, 2008. "A General Equilibrium Assessment of the Impact of a Fall in Tourism Under Alternative Closure Rules: the Case of the Balearic Islands," International Regional Science Review, , vol. 31(1), pages 3-34, January.
    7. Clemente Polo Andrés & Elisabeth Valle Valle, 2007. "An Assessment of the Weight of Tourism in the Balearic Islands," CRE Working Papers (Documents de treball del CRE) 2007/04, Centre de Recerca Econòmica (UIB ·"Sa Nostra"), revised Jan 2007.
    8. Banerjee, Onil & Cicowiez, Martin & Gachot, Sébastien, 2015. "A quantitative framework for assessing public investment in tourism – An application to Haiti," Tourism Management, Elsevier, vol. 51(C), pages 157-173.
    9. Banerjee, Onil & Cicowiez, Martin & Cotta, Jamie, 2016. "Economics of tourism investment in data scarce countries," Annals of Tourism Research, Elsevier, vol. 60(C), pages 115-138.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rolfe, John, 2019. "Simple economic frameworks to evaluate public investments in sporting events in regional Australia," Economic Analysis and Policy, Elsevier, vol. 63(C), pages 35-43.
    2. Rolfe, John & Flint, Nicole, 2018. "Assessing the economic benefits of a tourist access road: A case study in regional coastal Australia," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 167-178.
    3. Mallick, Sanmoy & Mitra, Professor Debabrata & Ghosh, Dr Amlan, 2021. "Selection Of Tourist Destination For Investment Decision: A Holistic Model," MPRA Paper 115369, University Library of Munich, Germany, revised 03 Nov 2022.
    4. Zhixin Zeng & Xiaojun Wang, 2023. "Will World Cultural Heritage Sites Boost Economic Growth? Evidence from Chinese Cities," Sustainability, MDPI, vol. 15(10), pages 1-19, May.
    5. Hung-Ming Tu, 2022. "Confirmative biophilic framework for heritage management," PLOS ONE, Public Library of Science, vol. 17(3), pages 1-19, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Onil Banerjee & Martin Cicowiez & Adela Moreda, 2017. "Reconciliation Once and For All: Economic Impact Evaluation and Social Cost Benefit Analysis," CEDLAS, Working Papers 0207, CEDLAS, Universidad Nacional de La Plata.
    2. Onil Banerjee & Martin Cicowiez & Thomas Ochuodho & Michel Masozera & Bernabas Wolde & Pankaj Lal & Sebastian Dudek & Janaki R.R. Alavalapati, 2017. "Financing the Sustainable Management of Rwanda’s Protected Areas," CEDLAS, Working Papers 0211, CEDLAS, Universidad Nacional de La Plata.
    3. Jeroen Klijs & Jack Peerlings & Wim Heijman, 2015. "Usefulness of Non-Linear Input—Output Models for Economic Impact Analyses in Tourism and Recreation," Tourism Economics, , vol. 21(5), pages 931-956, October.
    4. Juan Soulie & Elisabeth Valle, 2014. "Trade Effects of Specialization in Tourism: An Inter-Regional Input—Output Model of the Balearic Islands," Tourism Economics, , vol. 20(5), pages 961-985, October.
    5. Castillo, Victoria & Figal Garone, Lucas & Maffioli, Alessandro & Salazar, Lina, 2017. "The causal effects of regional industrial policies on employment: A synthetic control approach," Regional Science and Urban Economics, Elsevier, vol. 67(C), pages 25-41.
    6. Onil Banerjee & Martín Cicowiez & Jamie Cotta, 2016. "Economic Assessment of Development Interventions in Data Poor Countries: An Application to Belize’s Sustainable Tourism Program," CEDLAS, Working Papers 0194, CEDLAS, Universidad Nacional de La Plata.
    7. Cicowiez, Martín & Ordóñez, Romina, 2021. "The economic impacts of tourism-related private investment in Jamaica," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    8. Banerjee, Onil & Alavalapati, Janaki R.R. & Lima, Eirivelthon, 2016. "A framework for ex-ante analysis of public investment in forest-based development: An application to the Brazilian Amazon," Forest Policy and Economics, Elsevier, vol. 73(C), pages 204-214.
    9. Xesús Pereira López & Melchor Fernández Fernández & André Carrascal Incera, 2016. "The Economic Impact of International Students in a Regional Economy from a Tourism Perspective," Tourism Economics, , vol. 22(1), pages 125-140, February.
    10. Erick Lahura & Rosario Sabrera, 2023. "The effect of infrastructure investment on tourism demand: a synthetic control approach for the case of Kuelap, Peru," Empirical Economics, Springer, vol. 65(1), pages 443-478, July.
    11. Erick Lahura & Rosario Sabrera, 2020. "Inversión en infraestructura y demanda turística: una aplicacion del enfoque de control sintético para el caso de Kuélap, Perú," Documentos de Trabajo / Working Papers 2020-491, Departamento de Economía - Pontificia Universidad Católica del Perú.
    12. Banerjee, Onil & Cicowiez, Martin & Cotta, Jamie, 2016. "Economics of tourism investment in data scarce countries," Annals of Tourism Research, Elsevier, vol. 60(C), pages 115-138.
    13. M. Alejandro Cardenete & M. Carmen Lima & Ferran Sancho, 2013. "Are There Key Sectors? An Appraisal Using Applied General Equilibrium," The Review of Regional Studies, Southern Regional Science Association, vol. 43(2,3), pages 111-129, Winter.
    14. Georges, Patrick & Mérette, Marcel & Zhang, Qi, 2011. "Assessing the Cost of Post-9/11 Security Measures and the Impact of a North American Security Perimeter - A Computable General Equilibrium Analysis," Conference papers 332126, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    15. Blanchflower, David G. & Oswald, Andrew J., 2006. "The Wage Curve: An Entry Written for the New Palgrave, 2nd Edition," IZA Discussion Papers 2138, Institute of Labor Economics (IZA).
    16. Renaud Crassous & Jean Charles Hourcade & Olivier Sassi, 2006. "Endogenous structural change and climate targets," Post-Print halshs-00009335, HAL.
    17. David Kucera, 1998. "Unemployment and External and Internal Labor Market Flexibility: A Comparative View of Europe, Japan, and the United States," SCEPA working paper series. 1998-21, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    18. Ana Maria Bonomi Barufi & Eduardo A. Haddad, Peter Nijkamp, 2016. "New evidence on the wage curve: non-linearities, urban size, and spatial scale in Brazil," Working Papers, Department of Economics 2016_39, University of São Paulo (FEA-USP).
    19. Jimeno, Juan F. & Bentolila, Samuel, 1998. "Regional unemployment persistence (Spain, 1976-1994)," Labour Economics, Elsevier, vol. 5(1), pages 25-51, March.
    20. Pavel Ciaian & Andrey Ivanov & d'Artis Kancs, 2019. "Universal basic income: A viable policy alternative?," The World Economy, Wiley Blackwell, vol. 42(10), pages 2975-3000, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:toueco:v:23:y:2017:i:8:p:1568-1580. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.