Financial Cost–benefit Analysis of Banchiang Homestay Factors Influencing Foreign Climber’s the Decision to Travel in Thailand

Abstract

This study aims to study the context of Ban Chiang community-based tourism and to determine feasibility of investment in the community’s homestays by conducting Financial Cost-benefit Analysis. The results show that the World Cultural Heritage, Tai Phuan ethnic, and human capital are the keys to explaining the strength, value-added, and creativity of the community. However, the results of the financial feasibility of Ban Chiang homestay service shows that the level of feasibility of each homestay differs depending on the initial investment cost and the number of guests. Comparing between a newly-built homestay and a renovated one, the former is more restrictive in managing variable costs and occupancy and so are unable to recover the cost of an investment in a timely manner.