nep-tur New Economics Papers
on Tourism Economics
Issue of 2007‒06‒11
two papers chosen by
Antonello Scorcu
University of Bologna

  1. Tourism, welfare and real estate market in small open economy: the case of Croatia By Ivo Družić; Vladimir Čavrak; Josip Tica
  2. Recreational Boater Willingness to Pay for a Dredging and Maintenance Program for the Atlantic Intracoastal Waterway in North Carolina By John C. Whitehead; Jim Herstine; Christopher F. Dumas

  1. By: Ivo Družić (Faculty of Economics and Business, University of Zagreb); Vladimir Čavrak (Faculty of Economics and Business, University of Zagreb); Josip Tica (Faculty of Economics and Business, University of Zagreb)
    Abstract: The paper investigates effects of the tourism boom on the real estate market in Croatia. According to the general equilibrium models of the tourism intensive small open economy, the most important benefit of the tourism is reflected in the fixed-factors rents, namely real estate market rents. This paper investigates results of the small open tourism intensive economy theoretical model in the case of the transition and EU accession of the Croatian economy. Analysis is focused on the real exchange rate changes in the tourism sector as the main source of welfare improvements and its effects on the fixed-factor prices in Croatia.
    Keywords: tourism, real estate, development, EU enlargement, Croatia
    JEL: R2 F2 F21
    Date: 2007–05–29
  2. By: John C. Whitehead; Jim Herstine; Christopher F. Dumas
    Abstract: We estimate the changes in value of recreational boating with a dredging program along the Atlantic Intracoastal Waterway (AIWW) in North Carolina. We use willingness to pay data from the contingent valuation method and stated preference data on trip changes. Willingness to pay depends in expected ways on the magnitude of trip change and income. We find that each recreational boater would be willing to pay $97 annually in the form of a surcharge on their boat registration fee. The aggregate annual benefits of the dredging and maintenance policy are $20.5 million.
    Date: 2007

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