ABSTRACT
The previous chapter was concerned largely with the wider environmental issues of economic impact in general and tourism in particular and their implications for sustainability and the conservation of exhaustible and renewable productive and energy resources. It also introduced the concept of market failure and its consequences for the environment, especially the natural resource base. Furthermore, the chapter emphasized the importance of the analytical framework of costbenefit analysis and its application to environmental problems. Fundamentally, therefore, attention was concentrated on demonstrating the relevance of economic principles to appraising the environmental impact of tourism activity.
