The primary purpose of this paper is to evaluate the impacts of green finance on green energy deployment in China's tourism industry. To this end, the annual data over 1992–2021 through the ARDL ...(Autoregressive Distributed Lag) approach for the case of China are analyzed. The findings confirm that the issued green bonds positively impact the green efficiency of China's tourism industry in the long term. In contrast, the coefficient of issued green bonds is insignificant for the short-term approach. In addition, in the short and long term, the consumer price index also has a significant adverse effect on the green efficiency of China's tourism industry. The recommended practical policies are improving executive regulations and transparent market information, implementing green fiscal policies, green construction in hotels and tourist accommodations, green globalization, operational phases of innovation, adaptation, and stabilization (IAS), and eco-tourism regionalism.
•Green bonds have a positive impact on the green efficiency of China's tourism.•Consumer price index has a negative effect on green efficiency of China's tourism.•Economic globalization index has a significant coefficient on green efficiency.
The tourism sector has been deeply ravaged by the COVID-19 pandemic as many individuals abstained entirely from travel. Thus, before contemplating the trajectory of the sector’s recovery, it is ...essential to understand individuals’ travel intentions both during and after the pandemic. The present study contributes in this regard by examining the impact of individuals’ personality traits categorised by the five-factor model, or the Big Five, on their leisure travel intentions during and after the pandemic. To this end, we utilised an artificial neural network (ANN) approach to analyse 500 responses from individuals residing in Japan. The results reveal that extraversion has the strongest relative influence on intentions to travel during the pandemic, whereas openness to experience has the strongest influence on travel intentions after the pandemic. This study is the first of its kind to examine the influence of the Big Five personality traits on travel intentions in the context of a pandemic.
In 2020, the tourism sector in many regions of the world suffered heavy losses. Global restrictions on travel, requirements to stay at home have had negative consequences for the tourism sector. ...Countries that are heavily dependent on tourism, faced with a difficult financial situation, have been forced to radically reconsider marketing, business model and ways to diversify business. The multiplier effect of tourism is manifested in the development of firms that meet not only tourism needs but also the development of related markets. The topic of restoring the tourism sector is also relevant for Ukraine, as the country has also suffered losses in the field of tourism. The tourism business in Ukraine has already lost more than $ 1.5 billion. Thousands of workers in Ukraine’s tourism sector have lost their jobs. In this study, we examined the impact of the pandemic on regions of the world, and analyzed in more detail the consequences for Spain. The tourism sector plays an extremely important role for Spain. Spain is one of the most visited countries in the world with a large number of tourists per year. Spain is the second most visited country after France and the second most visited by the United States in terms of tourism spending. Thus, the country’s experience in combating the effects of the pandemic in the tourism sector is important because it can be applied in Ukraine. The most important measures of economic support for the tourism sector implemented by Spain were the following: - labor measures: programs to support the population who lost employment - 3,386,000 applications; - financial assistance through an application for bank loans with state guarantees - 6,500 million euros; - support for self-employed workers in the tourism sector through financial benefits - 250,000 workers received assistance; - tax measures, which are determined in the deferral of debts and taxes on business activities for a period of six months. It should be noted that some hotels have taken the initiative to combat the effects of the pandemic. Thus, five Spanish hotel groups (Meliá Hotels International, Iberostar Hotels & Resorts, Barceló Hotel Group, Riu Hotels & Resorts, NH Hotel Group) have set a common goal - to protect the health of customers and their employees, adhering to strict hygiene standards in institutions, by enhancing digitalization. Our research has shown that the most important role in developing effective measures in response to economic challenges in the tourism sector is played by constructive interaction between the state and the private sector. Acting unilaterally, the government is unable to eliminate the causes and consequences of the crisis, nor to ensure economic stability and the restoration of tourism. Further research will focus on the experience of other European countries in overcoming the effects of the crisis in the tourism sector.
The article is aimed at adapting the world experience in terms of supporting the tourism industry in the context of the pandemic and developing a methodology for economic-organizational provision for ...the development of the tourism sector of Ukraine. The analysis of world experience indicates such priority spheres of policy to support the tourism sector as protection of tourism industry workers, fiscal support and provision for liquidity of tourist facilities. At the same time, the instruments for the economic-organizational development of the tourism sector include the balance of interests of every tourist in particular and tourism sector in general, the support of small and medium-sized enterprises in the tourism sector, the formation of mechanisms for the renovation of tourism sector. The dominant tendency in the tourism industry remains the digitization of tourist services and the transfer of a significant part of advertising activities to the global network Internet. The emphases on ensuring sustainable development related to environmental protection and climate are shifting. The measures related to the promotion of new tourist services in the context of the formation of a holistic image of countries or regions, provision for high-quality jobs in the tourism sector as counteraction to high turnover of workers and the problem of seasonality of services appear to become relevant. An analysis of the situation in the tourism sector indicates the actualization of the transition to local and regional values. Taking into account the fact that in Ukraine the tourism sector is represented mainly by small and medium-sized enterprises, a number of measures are proposed to support such enterprises, including the scheme of the State-issued tourist vouchers; the State-based financial support of enterprises; improvement of regulations governing the tourism business; optimization of quarantine security measures and the creation of a special online platform for supporting tourism sector enterprises. The focus is on developing systemic solutions for small and medium-sized enterprises in the tourism sector, taking into account their critical role in solving employment problems and development of innovations.
This study aims to find out how important the use of English is in developing the tourism sector in Banda Aceh and to find out how English is currently used in the development of the tourism sector ...in Banda Aceh. The research method used a mixed-method design. The research participants were the leaders and staff at the Banda Aceh City Tourism Office, Kana Tour and Travel, MU Wisata Tour and Travel Company, and Awa Tour and Travel which consists of 30 people, they are 4 leaders and 26 staff. This study used questionnaires and interviews as the instruments. The formula used to analyze the questionnaire data was the percentage formula from the Likert scale, and the interviews results were done through data transcription. After collecting data, it was found that based on the questionnaire answers of the staffs (at Banda Aceh City Tourism Office and Travel Agencies), the results of using English in the development of the tourism sector in Banda Aceh reached 93% which were considered important, and only 7% were not important. Meanwhile, currently in the tourism sector in Banda Aceh, English was also very important to use. These results are based on the interview answers of the leaders (at the Banda Aceh City Tourism Office and Travel Agencies). But the reasons for using it were different, such as making tour packages, providing tourism information, managing travel documents, interacting with international customers, carrying out activities in their respective fields, and working with other relevant agencies.
This article examines the effects of the COVID-19 pandemic on the travel-tourism stock markets. Specifically, it considers the five most visited countries: France, Spain, the US, China, and Italy. ...Unlike previous studies, it estimates time-varying VAR (TVP-VAR) models, including daily
observations of confirmed COVID-19 cases, economic activity, CDS spreads, and the returns of travel-tourism sectors. In brief, our findings indicate that the effects of COVID-19 vary across countries, as well as over time. Specifically, increasing numbers of cases initially had a negative
and significant impact on the travel-tourism stock returns of all countries. However, this effect had become insignificant by early April 2020. The travel-tourism markets of the European countries were seen to be more heavily affected by COVID-19 when compared to China and the US, with
China seeming to have been the least affected country of all. Overall, our results are essential in understanding the impact of the COVID-19 pandemic on the travel-tourism stock markets, and are of particular importance to policymakers, portfolio managers, and investors.
Purpose: Banyuwangi Regency is intensively optimizing the tourism sector that has enormous natural and cultural potential. The tourism sector has a broad impact (multiplier effect) felt by all layers ...of businesses, including businesses in the entertainment industry, hospitality and restaurants. These three business sectors will directly affect income through the tourism sector's local tax. The purpose of this study is determine the relationship of the tourist visitation number to the entertainment tax of Banyuwangi Regency, to find out the relationship of the tourist visitation number to the hotel tax of Banyuwangi Regency, to determine the relationship of the tourist visitation number to the restaurant tax of Banyuwangi Regency. Research methods: The analytical method used in this study is Product Moment Correlation Analysis. Results and discussions: The results of this study indicate that the relationship of the Tourist visitation Number (X1) to the Entertainment Tax (Y1) obtained by Pearson product moment value is 0.938 (Very Strong). The relationship of the Tourist visitation Number (X1) to the Hotel Tax (Y2) obtained by Pearson product moment value is 0.955 (Very Strong). The relationship of the Tourist visitation Number (X1) to Restaurant Tax (Y3) obtained by Pearson product moment value from the Correlation Coefficient is 0.889 (Very Strong). Conclusion: The Three tourism taxes had positive correlations with the Tourist visitation
The COVID-19 pandemic has resulted in an unprecedented slowdown of economic activity worldwide, with an especially negative impact on the tourism sector. The adoption of international travel ...restrictions to contain the spread of the COVID-19 outbreak has brought much of the global tourism industry to a virtual standstill. Governments have introduced a range of economic stimulus packages designed to mitigate the negative effects of the pandemic, including its impact on travel and tourism. This article investigates whether the size of the tourism sector influences the economic policy response to COVID-19 pandemic using data from 136 countries. The findings show that the larger the tourism sector, the larger the economic stimulus package introduced by governments globally. Furthermore, we find that the size of the tourism sector is positively associated with both fiscal and monetary policy responses to the pandemic. The findings suggest that countries with larger tourism sectors adopted more aggressive economic stimulus packages to mitigate the impact of COVID-19 pandemic and reinvigorate floundering economies.
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