FINANCIAL SUSTAINABILITY PLAN FOR A DRY FOREST PROTECTED AREA IN THE COLOMBIAN CARIBBEAN REGION

by Elsin, Yoanna Kraus

Colombia’s dry forest ecosystem has been greatly reduced and few patches are left hosting the endemic and endangered Cotton Top Tamarin. The objective of this Master’s project is to analyze the financial feasibility of protecting a small remaining patch of dry forest near Cartagena, a high tourism city, based on ecotourism activities. The project analyses the background of the area including a SWOT analysis, a Stakeholders review and a short market analysis. It then proposes not-for-profit activities: park maintenance, community development and research as well as profitable activities: daily visit, camping, a traditional restaurant and advertising for the area. The activities’ costs are estimated, and the average number of visitors required to sustain the different combinations of the activities on the proposed protected area are calculated to assess financial feasibility. According to the analysis, the park would be financially feasible based on daily visits and restaurant activities, but advertising and other funding sources and partnership would be advisable to reduce the pressure on the natural resources produced by the visitation rates required for financial sustainability.