Challenges and prospects of valuation - cruise ship pollution case

Negative externalities and natural resource valuations play an important role in the debate and analysis of sustainable development. However, as yet, they have not been included extensively in tourism research or planning. As a result limited progress has been made to improve environmental management and address resource management challenges. This paper seeks to stimulate the discussion over the advantages, disadvantages, failures and successes of selected economic and development discourses. Valuation methodologies are discussed and placed within a pollution valuation impact model to identify opportunities to assess the impact of pollution and the value of natural capital in the tourism context. Cruise tourism is used to demonstrate the model due to its rapid growth and the potential for intense pollution outputs. It is considered in the context of a developing and transition state, one which sees tourism as a panacea to the problem of accessing international currency. By employing cross disciplinary research and applying valuation logic the paper aims to contribute to the decision making process in tourism.