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Balancing tourism growth, Fintech, natural resources, and environmental sustainability: Findings from top tourist destinations using MMQR approach

Author

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  • Xu, Anfeng
  • Jin, Lei
  • Yang, Jingzi

Abstract

There have been unprecedented efforts from various countries to address the precarious condition of the environment. Despite the efforts, there have been very insignificant results as natural calamities continue to rise and cause severe destruction all around the world, from China to all the way to Australia. This study used an MMQR to identify the impact of Fintech (FNT), Natural Resources (NTR) and Tourism (TOR) on Environmental Sustainability (ENS)in top tourist destination countries, including China, Japan, Australia etc. The results indicate that the FNT can address the rising environmental problems, while using NTR and TOR would increase pollution and negatively affect the ENS. Tourist activity can help boost foreign reserves but result in increased CO2 emissions. The study recommends the use of CO2 emission standards for the TOR industry to ensure that firms within the hospitality industry are forced to shift towards sustainable practices. The use of sustainable practices must be seen as an attractive proposition over unsustainable differentiation over its rivals in the hospitality market. Furthermore, FNT can be used to finance green tourism projects to attain sustainable economic growth in the long run.

Suggested Citation

  • Xu, Anfeng & Jin, Lei & Yang, Jingzi, 2024. "Balancing tourism growth, Fintech, natural resources, and environmental sustainability: Findings from top tourist destinations using MMQR approach," Resources Policy, Elsevier, vol. 89(C).
    • Handle: RePEc:eee:jrpoli:v:89:y:2024:i:c:s0301420724000370
    DOI: 10.1016/j.resourpol.2024.104670
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