Financial Feasibility Analysis of Creative Railroad Tourism in the Lanna Modernization Era Train Project: A Qualitative and Participatory Research Approach

Abstract

This research aims to evaluate the feasibility of investing in creative tourism businesses via train along the "Lanna modernization era" route. This is a qualitative study utilizing action research methods and community participation, involving relevant agencies. Data collection tools included interviews, focus group discussions, and field studies. The sample was selected using a purposive sampling method from a total of 180 individuals. Data analysis was conducted using financial analysis tools. The research findings revealed that the evaluation of the investment feasibility for the train tourism project, based on the financial analyses and project assessment tools, investors could receive returns in the form of net profits and an increase in net assets each year. The net present value is positive, the payback period is at an acceptable level, and the internal rate of return exceeds the minimum desired return rate. The analysis results of the project assessment tools fall within the criteria for making an investment decision.