Social Return on Investment (SROI) of Tourism Management on Koh Sichang: Insights from the Blue Economy Framework

Abstract

This study aims to evaluate the Social Return on Investment (SROI) of tourism management on Koh Sichang Island under the Blue Economy framework during the period  2020–2023, and to formulate policy recommendations for strategic development that enables economic growth to proceed in parallel with the sustainable conservation of natural resources and local livelihoods.  The research employs a participatory action research approach and adopts a mixed-methods design, integrating quantitative and qualitative data collected through in-depth interviews, focus group discussions, and questionnaires with a wide range of stakeholders.  These stakeholders include public transport service providers, accommodation operators and community-based tourism enterprises, local retailers and producers, fishing communities and marine resource management groups, local authorities and government agencies, as well as community leaders and local residents.  The findings indicate that tourism management on Koh Sichang Island under the Blue Economy approach generates a Social Return on Investment (SROI) ratio of 2.21, meaning that every 1 Thai baht invested in tourism management generates a total social value of 2.21 baht.  The analysis also reveals a net present value (NPV) of 444,557,549 baht and a benefit–cost ratio of 147.63.  The primary beneficiaries of these outcomes are small-scale entrepreneurs, local communities and artisanal fishers, and public-sector agencies.  These results demonstrate that the Blue Economy–based tourism management approach has strong potential to generate income, promote equitable benefit distribution, and simultaneously support the sustainable conservation of natural resources.  In addition, the study proposes policy recommendations structured around four strategic pillars: (1) economic and marketing development, (2) social and community development, (3) environmental sustainability, and (4) governance and monitoring and evaluation mechanisms. Together, these strategies provide a concrete policy framework for advancing tourism-led economic, social, and environmental development under the Blue Economy paradigm.