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This research focuses on key factors of successful community- based tourism in Thailand. Key factors emphasizing on resources-based view in term of human resources capital are focused: transformational leadership and other five competencies of human capital. Gathering data is done by questionnaire with the whole population(160 respondents) and interview with 5 key informants. Structural Equation Model is employed for analysis. The results present that transformational leadership and human capital directly highly influence community participation in strategic planning. Community participation in strategic planning directly influences greatly on community- based tourism’s success. Results from interviews confirm the quantitative findings. Government is suggested to promote transformational leadership and the key competencies of human capital in practice to community –based tourisms’ participants to support Thai government policy” One Sub district, one tourism site” to succeed
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