Hiking Trails Economic and Social Impact: The case of the Lebanon Mountain Trail
DOI:
https://doi.org/10.54536/ajee.v4i1.4490Keywords:
Contingent Valuation, Cost-Benefit Analysis, Economic Impact, Lebanon Mountain Trail, Travel CostAbstract
The Lebanon Mountain Trail (LMT), spanning 450 kilometers, plays a pivotal role in fostering sustainable tourism and enhancing local and rural economic development in Lebanon. In order to assess its role and impacts, this study evaluates the socio-economic contributions of the LMT by employing Travel Cost (TC), Contingent Valuation (CV), and Cost-Benefit Analysis (CBA) methods. To ensure a comprehensive analysis, data were systematically collected through a combination of surveys and key informant interviews. The results of the study indicate that the LMT generates substantial annual economic value, ranging between 17 million USD and 34 million USD. Moreover, the benefit-cost ratio (BCR) demonstrates the LMT’s strong return on investment, reaching 42.6 under conservative scenarios and 85.2 under optimistic scenarios. These findings suggest that each dollar invested in the LMT yields substantial returns, underscoring its attractiveness as a sustainable investment. Beyond these aggregate economic contributions, the analysis further delineates direct and indirect economic effects, with the Type 1 multiplier highlighting significant re-spending effects within the local economy. However, while this study emphasizes the LMT’s crucial contributions to community development and tourism enhancement, it also acknowledges certain limitations, particularly in capturing induced economic effects. As a result, the study suggests avenues for future research to address these gaps and refine the economic assessment. In conclusion, these findings reinforce the necessity of adopting sustainable management practices and implementing strategic policy interventions to further amplify the LMT’s positive role within Lebanon’s socio-economic and environmental frameworks.
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