Long-Term Survival of Investments Implemented under Endogenous Rural Development Programs: The Case Study of La Vera Region (Extremadura, Spain)

Abstract

One of the main objectives of rural development programs is the economic diversification of rural areas. In the context of the European Union, the application of the Leader Initiative (referred to today as the Leader Approach) is perhaps the best example of this type of policy. Based on the case study methodology, the objective of this work is to analyze the viability of the projects promoted by this type of program. A long-term scenario is taken as a reference, and this is precisely one of the main methodological innovations of this research in relation to most of the analyses focused on the impacts of rural development programs. The results of the research show (a) an orientation of the development strategy towards the promotion of rural tourism and (b) differences in the survival of the projects according to the type of productive measure under which they have been implemented: agricultural valorization and marketing projects offer better results than those promoting rural tourism or the promotion of SMEs and crafts and services. These results call into question the notable concentration of investment in projects aimed at creating tourist accommodation.