Economic and social yield of investing in hiking tourism: the case of Berguedà, Spain

ABSTRACT

Nature-based tourism is on the rise around the world. This article employs a cost–benefit analysis methodology to contribute to knowledge in this area by estimating both the economic impacts and the social costs and benefits of investing in hiking tourism. It includes tangible and non-tangible impacts, such as health benefits and CO₂ emissions. Using data collected between March 15 2014 and March 14 2015, results show a positive return from every Euro invested in hiking tourism. A single figure of net returns to society enables policymakers to assess the social value of the investment itself and can help citizens’ rational choice regarding whether to encourage or resist additional tourism development.