The Effect of Foreign and Local Visitors on Granting Park Concessions

Abstract

If parks have particular characteristics, park managers should grant firms exclusive rights (concessions) to provide products or services within the park. The characteristics include that park development is only attractive to foreign visitors, that foreign visitors are only valuable for the currency they spend, and that park development and congestion reduce the park's value to domestic visitors. Price ceilings on concession owners are also a poor policy under these conditions.