Optimizing the Utilization of Geothermal Water in Spa Tourism: An Investment Strategy with a Focus on Sustainability

The main subject of the paper is the effective utilization of geothermal water in a resort with the potential for spa tourism, linked to the proposal of an investment strategy. The primary objective is to suggest new development options for the destination, with a particular focus on the sustainability of the geothermal source. Two models for economic investment in area reconstruction are presented before the final proposal. The first model assesses the investment's effectiveness based on the Net Present Value (NPV), while the second model examines hydrological risks (such as a decrease in source capacity, water volume, and heat sources). This involves monitoring changes in water volume and heat sources over several years. The article's outcome aims to highlight, through a case study, the considerations for spa tourism resorts and potential risks associated with investment decisions, particularly in the context of the exhaustibility, volume, and quality of the geothermal water source.