ABSTRACT
Chapter 8 was concerned largely with the wider global environmental issues and economic impact of tourism with particular reference to sustainability. After introducing the scope and content of the microeconomic analysis of the environment, the core of Chapter 9 was to demonstrate the relevance to tourism of capital appraisal methods, the elements of market valuation, the consequences for the environment of market failure and the use of productive and energy non-renewable and renewable resources and their conservation. Of particular importance is the effect of the sector on the natural resource base.
