Setting up a park exhibiting scaled-down models of selected Maltese sites and buildings : a feasibility study

Abstract

Attractions are one of the most important components m the tourism system. Developing a product in line with proposed guidelines for future tourism development and growth has the potential of reaping a number of economic and social benefits on a national basis. The setting up of a park that would exhibit scaled-down models of selected Maltese sites and buildings is intended to exploit these benefits. The objective of this dissertation has been to evaluate the financial feasibility of setting up this attraction. The study establishes how the models' park could be developed and managed in order to enhance an appreciation of our unique heritage within an environment that aspires to be in contrast to the usual presentation of static exhibitions. The capital expenditure required to set up the models' park was estimated. Income and expenditure expected to arise were projected, together with the Profit and Loss Account and Cash Flow Forecast. Finally, the financial feasibility of the project was determined and evaluated taking into account certain assumptions and unpredictable factors. The results of this study transpire that the project would be financially feasible over the ten-year period under review. However, irrespective of the financial aspect, the project is justifiable from a cost/benefit point of view and these benefits should not be forfeited.