Sustainable Tourism and the Moral Limits of the Market: Can Asia Offer Better Alternatives

Abstract

AbstractDespite its entanglements with society, tourism is still an industry that uses the market for economic exchange, so as to price tourism goods, services and experiences. The market serves important functions in society but there are two moral limits. The first is on how market exchange may transform some products, services and experiences in ways that denigrate and even destroy their intrinsic values. The second is on the failure of the market in distributing benefits from economic exchange more equitably, and to those who need them more. This does not mean that the market is immoral, it just means that there are inherent limitations to how the market maximises or enhances the welfare of society. This chapter looks at four common sustainable tourism approaches, and argues that they all address the moral limits of the market, from local perspectives. And subsequently, can lessons be learned from the Asian experience in doing sustainable tourism? The answer is yes but with caveats.KeywordsTriple bottom linePublic-private partnershipsCommunity-led tourismMarket redesignRegenerative tourismAsian models of sustainable tourismMoral limits of the marketSocial justiceSocial equity