Recent experiences in project appraisal

The author examines the nature of the tourism industry and, within this context, defines what is meant by project appraisal and examines its composition. There is a variety of approaches to project appraisal depending on the varying objectives of the different forms of organization involved in tourism development. The underlying rationales of these approaches are considered and the strengths and weaknesses of each appraised to develop one that is objective and acceptable.