Publication Details
Abstract
Ecotourism is one of the most rapidly expanding sectors of the worldwide hotel market, providing a potential means of sustainable economic progress without the loss of natural and cultural resources. In this paper the scientific-theoretical approaches to revealing the economic mechanisms of ecotourism development have been studied. Using a systematic literature review methodological process based on the IMRAD framework, the study reviews both classical and modern economic thought—including neoclassical economics, institutional economics, ecological economics, and sustainable development theory—applied to ecotourism. Abstract A market such as ecotourism will benefit from certain enablement strategies. They include: market-based instruments, fiscal policies, public-private partnerships and community-based economic models. This research examines each of these tools consequential to the development of an ecotourism market. The results demonstrate that no one theoretical paradigm sufficiently describes ecotourism economics, but that integration and a blend of disciplinary frameworks are critical to fully understanding the economics of ecotourism. We propose an integrative conceptual framework at micro, meso, and macro analytical levels and across time. It discusses major gaps in the existing literature, such as the consideration of non-market values, the influence of institutional frameworks on the growth of ecotourism in developing countries, and economic viability of ecotourism as a permanent activity. This work contributes to the literature by providing an integrated conceptual framework which links economic theory with the practical realities of ecotourism management and policy.