Fostering Sustainable Tourism Associated with Satisfaction and Financial Improvement Using a Novel CPBM Approach: A Case Study of Lac Village, Vietnam

Sustainable tourism is increasingly important for local sustainable livelihoods; however, its development is often hindered by financial limitations. To address this critical constraint, this study investigates the relationship between tourist satisfaction and their Willingness to Pay (WTP) for Community-Based Tourism (CBT) service improvements. Employing a novel Culture Tower/KHUC Tower-based approach, Partial Least Squares Structural Equation Modeling with the Bayesian Mindsponge Framework (CPBM), we analyze data from 275 young respondents collected in mid-December 2024 and mid-August 2025. Our empirical results demonstrate that tourist satisfaction is a strong predictor of WTP, alongside financial status, environmental concerns, and environmental quality assessment. Additionally, we identify food quality, service delivery, and infrastructure as the primary determinants of satisfaction in CBT contexts. The findings reveal that satisfaction-driven financing mechanisms can unlock sustainable revenue streams for CBT destinations, provided that strategic investments address key service quality dimensions. Our results have important implications for tourism managers and policymakers seeking to enhance financial sustainability through coordinated stakeholder engagement, targeted infrastructure improvements, and transparent fund management systems in Lac Village and beyond.