The relationship between debt-for-nature swaps and protected area tourism: a plausible strategy for developing countries

Abstract

There is a positive correlation between the debt crisis of countries. To combat the crisis, Lovejoy (1984) introduced the debt-for-nature swap process that involves a mechanism of exchange in which a certain amount of the debtor’s foreign debt is cancelled or forgiven, in return for local currency from the debtor government to be invested in domestic environmental projects such as designation and management of protected areas. Currently, in excess of $1.5 billion in transactions have occurred among 19+ countries. The demand for nature-based tourism is on the rise, and developing countries should subscribe to such swaps.

Parent Publication

• Wilderness science in a time of change conference-Volume 2: Wilderness within the context of larger systems; 1999 May 23-27; Missoula, MT

Citation

Thapa, Brijesh. 2000. The relationship between debt-for-nature swaps and protected area tourism: a plausible strategy for developing countries. In: McCool, Stephen F.; Cole, David N.; Borrie, William T.; O’Loughlin, Jennifer, comps. 2000. Wilderness science in a time of change conference—Volume 2: Wilderness within the context of larger systems; 1999 May 23–27; Missoula, MT. Proceedings RMRS-P-15-VOL-2. Ogden, UT: U.S. Department of Agriculture, Forest Service, Rocky Mountain Research Station. p. 268-272