A Real-Optional Evaluation of User-Restriction Policy to Maintain SDG's Tourism at Under-Polulated Destinations

Abstract

This paper postulates a user-restriction policy for tourism to maintain SDGs at under-populated destinations using a real-option framework. The sharp decline in tourism caused by the COVID-19 pandemic has forced many tourism related businesses to go out of business in Japan. Our paper is even more important because the post-pandemic tourists may well reduced the amenity level of under-populated destinations.