Site selection problem in touristic feasibility reports

Formal decision analysis is restricted to situations in which alternative choices are available, and often this is not a feature of investment project studies involving touristic facilities. That is, more often than not, a study is made to determine the “feasibility” of a particular proposed project, with primary emphasis on economic considerations; and the decision is merely to go ahead with the project or not. On the other hand in some circumstances there may be alternative choices available, such as several architectural arrangements, alternative locations, etc., and these need to be evaluated on economic criteria. But often the major considerations are essentially non‐economic and no systematic procedures are employed for introducing these factors into the analysis.