Economic valuation of sustainable tourism policies: A meta-regression analysis of discrete choice experiments

Abstract

The economic valuation of sustainable policies is necessary for undertaking socially optimal decisions that reduce the adverse impacts of tourism across society and the environment. This paper focuses on the economic valuation of sustainable tourism policies based on the evidence found in the literature of discrete choice experiments (DCE). The methodology involves both a systematic critical literature review and a meta-regression analysis of tourists’ preferences and willingness to pay (WTP) for sustainable policy attributes. The findings show that tourists value policies that contribute to sustainability. However, preferences are higher for those features related to nature, the environment, and local communities and lower for those policies concerning sustainable accommodation, infrastructures, and facilities. The results show critical gaps both in terms of the available evidence of sustainable policies and the methodological pitfalls across study results. Based on this assessment, a guiding protocol is proposed for future research.