Institutional economics approach in tourism: A review of economic philosophy Open Access

Authors

  • Syahrul Karim Politeknik Negeri Balikpapan
  • Bambang Jati Kusuma Politeknik Negeri Balikpapan
  • Farida Farida Politeknik Negeri Balikpapan

https://doi.org/10.70310/b1n7vh25 Published: 30-06-2024

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Abstract

This article aims to review the application of Institutional Economics in the tourism sector, evaluate how this perspective can address the limitations of conventional economic theories, and provide a deeper understanding of the social and economic impacts of tourism activities. By focusing on how Institutional Economics can aid in designing more inclusive and sustainable tourism policies, this article seeks to present a more comprehensive understanding of tourism's contribution to societal welfare and economic development.

Keywords:

institutional economics, classical economic theory , neoclassical economic theory , tourism, tourism philosophy

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Copyright (c) 2024 Syahrul Karim, Bambang Jati Kusuma, Farida Farida (Author)

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How to Cite

Karim, S., Kusuma, B. J., & Farida, F. (2024). Institutional economics approach in tourism: A review of economic philosophy. Journal of Rural Tourism , 1(1), 17-24. https://doi.org/10.70310/b1n7vh25
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