Value Chain Analysis: Beyond the Economic
The value chain framework has traditionally been used to understand the flow of economic value, in the case of tourism through an understanding of the flow of value through the wider tourism system, including tourism product and services supply chain. Sustainable development, as an objective, requires that we move beyond economic value contributions to consider the contribution of tourism development activities to the social, cultural and environmental aspects of SD. This paper develops the value chain concept to include the social, cultural and environmental value flow in tourism. In doing so it foregrounds the notion of yield, but it also takes this beyond the economic to include social, cultural and environmental yield. One interpretation of the underlying paradigm of sustainable development, besides inter and intra-generational equity is that development increase people’s control over their lives, maintains and strengthens community identity and cohesion while preserving and fostering the cultural meanings and practices of the societies in which it takes place. It follows, then, that tourism development should be undertaken with a view to enhancing these dimensions, usually while also improving economic conditions.
Keywords: Sustainable Development, Value Chain Framework, Yield, Tourism
Prof. Jim Macbeth
Dean of School, School of Social Sciences and Humanities, Murdoch University
School of Social Sciences and Humanities, Murdoch University