Factors Determining the Sustainable Success of Community-Based Tourism: Evidence of Good Corporate Governance of Mae Kam Pong Homestay, Thailand

To be sustainable, tourism businesses essentially offer the genuine ways of how people live their lives. It is the community itself that should be empowered based on the wisdoms that they have been practicing from generation to generation. In tourism, experts termed it as Community-Based Tourism (CBT). CBT is a aims at attracting tourists to experience the uniqueness of community way of life as what have been done by the people of Mae Kam Pong in managing their village tourism, especially their homestays. This research aimed at promoting the best practices of good corporate governance of the management of Mae Kam Pong homestays in Chiang Mai Thailand. In-depth interviews with the homestays owners and the head of the village as the manager and the leader of the homestay businesses were used as a method of data collections. The parameters used in assessing the governance of the homestay management were clear strategy, effective risk management, discipline, fairness, transparency, social responsibility, and self-evaluation (Mack, 2010). Based on the triangulation technique conducted, it was revealed that the Leader of Mae Kam Pong village effectively adopted and implemented the concepts of good corporate governance in managing homestays. The utmost key success factors were the sincere intention and perseverance of the head of the village to improve the quality of life of the people. His noble interest vanished all the obstacles he encountered at the beginning of the initiation of the village tourism development.