BOGNANCO: PAST AND PRESENT OF A THERMAL PLACE 
The essay examines the dynamics of evolutionary cycle of Bognanco. The thermal place, once frequented from an ample basin of use, after a period of serious decline, has now some opportunity for a new economic development cycle that can be supported by a consistent number of hotels. This essay considers the policies adopted by local stakeholders with a special look to the diffi culties in implementing a tourist governance and a redevelopment of facilities for a new type of spa customers.