Exploring the impacts of local development initiatives on tourism: A case study analysis

Abstract

This study investigates the intricate relationship between local development initiatives and tourism, with a specific focus on their impacts. By utilizing input-output matrices and a survey-based vector of tourist expenditure, we calculate both direct and indirect effects using accounting multipliers. The study assesses the potential return on investment and the generation of future income resulting from a 2.3 million euros investment. Our findings illuminate the predominantly positive impacts of local development initiatives on tourism. We underscore the importance of strategic planning, community engagement, and sustainable practices in optimizing the benefits and addressing potential challenges associated with local development for tourism. While this research primarily emphasizes the positive aspects, it recognizes the need for a nuanced understanding of the multifaceted impacts. This study contributes to the existing literature by providing a comprehensive analysis of the intricate relationship between local development and tourism. The study's practical insights and recommendations are valuable for policymakers, local communities, and tourism stakeholders, guiding them toward adopting sustainable and inclusive development strategies that maximize the positive impacts of tourism.