Background and Objectives: Community-Based Tourism (CBT) has emerged as a sustainable strategy for economic empowerment and workforce development, especially in rural and emerging tourism markets. In Thailand’s Eastern Economic Corridor (EEC), CBT offers a means to balance economic growth with cultural preservation. However, skill gaps, financial inaccessibility, and policy misalignment continue to constrain its long-term potential. This study aims to: (1) examine the effects of CBT participation on economic outcomes and human capital development through training effectiveness and government support; (2) explore stakeholder perspectives on capacity-building challenges and opportunities; and (3) propose policy recommendations for strengthening human capital and capacity-building mechanisms that support sustainable CBT. Methodology: A mixed-methods approach was employed, combining quantitative Structural Equation Modeling (SEM) with qualitative thematic analysis using NVivo. A survey of 400 CBT practitioners across the EEC assessed the direct and mediated effects of CBT participation on income stability, workforce readiness, training effectiveness, and policy support. Additionally, semi-structured interviews with 33 stakeholders—including entrepreneurs, tourism workers, and policymakers—offered deeper insights into training gaps, operational constraints, and governance inefficiencies. Thematic analysis identified recurrent economic, educational, and institutional barriers, contributing to a holistic understanding of CBT’s structural limitations. Main Results: The SEM results confirmed that CBT participation positively influences workforce development (β = 0.37, p < 0.01) and economic outcomes (β = 0.41, p < 0.001), with training effectiveness as a key mediator (β = 0.52, p < 0.001). Government support positively moderates training effectiveness (β = 0.28, p < 0.05), yet access to funding remains limited due to bureaucratic inefficiencies and centralized policy structures. Qualitative findings revealed critical challenges including seasonal income instability, outdated training content, and a lack of community-managed financial mechanisms. Discussions: The findings support global literature on CBT’s socio-economic benefits while underscoring persistent institutional barriers. Although integration with commercial tourism has been proposed, this study emphasizes that cultural and operational autonomy is essential for sustainability. A shift toward experiential, skills-based training—emphasizing digital marketing, financial literacy, and multilingual services—is recommended. Additionally, a transition to decentralized, community-managed funding models could enhance financial accessibility and local ownership. Conclusions: CBT holds strong potential to advance economic resilience and workforce development in the EEC. However, structural constraints related to training and governance must be addressed. A transformative policy approach—centered on localized training, inclusive governance, and decentralized financial support—is essential to ensure CBT’s long-term competitiveness and sustainability in Thailand’s evolving tourism sector.
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