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Impact of digital inclusive finance on household tourism consumption: evidence from China

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  • Xiaojun Wu
  • Huijia Chang

Abstract

Purpose - This paper aims to explore the role of digital inclusive finance (DIF) in influencing household tourism consumption, whether this influence differs between households with different characteristics and determining the intermediate mechanisms that influence the relationship. Design/methodology/approach - The conceptual framework of this study was designed on the basis of the research on DIF in residential consumption practices. The China Household Finance Survey (CHFS) and the Peking University DIF Index were used in the study, which included four years of unbalanced panel data from 25 provinces in China. A fixed effects model was used to validate the conceptual framework and hypothesis testing. Findings - Both hypothesis paths proposed in this study were supported. Results of this study show that DIF has a significant contribution to household tourism consumption and shows a positive impact in terms of both breadth of coverage and depth of use, and that Internet usage is an important mediating mechanism for DIF to promote household tourism consumption. Thus, the use of DIF as a tool can have a positive impact on tourism consumption. Research limitations/implications - Results of this study will help researchers and tourism businesses understand the relationship and mechanisms at play between DIF and household tourism consumption and leverage financial tools to drive tourism revival. However, the lack of third-country data for comparative analysis may render the conclusions inapplicable to every economy. Originality/value - This study is the first to examine the relationship between DIF and household tourism consumption, using an “individual + time + region” fixed effects model to conduct specific empirical tests.

Suggested Citation

  • Xiaojun Wu & Huijia Chang, 2023. "Impact of digital inclusive finance on household tourism consumption: evidence from China," European Journal of Innovation Management, Emerald Group Publishing Limited, vol. 27(6), pages 2101-2121, February.
    • Handle: RePEc:eme:ejimpp:ejim-09-2022-0527
    DOI: 10.1108/EJIM-09-2022-0527
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    Cited by:

    1. Zhou, Jun & Zhang, Xueyi & Korkmaz, Aslihan Gizem & Li, Youwei & Yue, Pengpeng, 2025. "Entrepreneurship in the digital era," Research in International Business and Finance, Elsevier, vol. 78(C).
    2. Wenhui Liu & Guangqin Li, 2025. "Sci-tech finance and urban entrepreneurial activity: evidence from China," Economic Change and Restructuring, Springer, vol. 58(3), pages 1-31, June.
    3. Feng, Yanchao & Yan, Tong & Hu, Shilei & Zhang, Zhenhua, 2025. "The impact of digital inclusive finance on household carbon emissions: Empirical evidence from China," International Review of Financial Analysis, Elsevier, vol. 102(C).
    4. Zhang, Cheng & Jian, Yaode & Zhou, Zhongsheng & Zhou, Bo, 2024. "Can the digital economy close the gender wage gap? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    5. Cai, Yuanyuan & Liang, Le & Zhang, Yi & Qi, Liangqun & Wang, Chengdong, 2025. "Does digital inclusive finance promote industrial global value chain upgrading? evidence from China’s advanced manufacturing industry," Finance Research Letters, Elsevier, vol. 82(C).
    6. Dong, Xueqin & Dong, Dongdong & Huang, Lilong, 2025. "Enhancing corporate total factor productivity: The dual drivers of inclusive finance and technological progress," International Review of Financial Analysis, Elsevier, vol. 103(C).
    7. Wang, Pengcheng & Yang, Xuelin, 2024. "Social trust and household financial decision-making: An empirical study based on the usage of household financial technology," Finance Research Letters, Elsevier, vol. 70(C).
    8. Ao Yang & Mao Yang & Fuyong Zhang & Aza Azlina Md Kassim & Peixu Wang, 2024. "Has Digital Financial Inclusion Curbed Carbon Emissions Intensity? Considering Technological Innovation and Green Consumption in China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 19127-19156, December.
    9. Sun, Liming & Lu, Feixiang & Guan, Haoyuan & Lu, Xiang & Zhai, Jun & Liu, Junchao, 2025. "Tax incentives, business environment, and entrepreneurial and innovation outcome," International Review of Financial Analysis, Elsevier, vol. 103(C).
    10. Xiong, Wei & Jiang, Mengzhen & Liu, Yingying, 2024. "Digital economy, risk attitudes, and entrepreneurial decision-making in urban and rural households in China," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    11. Zhao, Yuehan & Zhao, Zheng, 2025. "Analysis of family wealth and participation in commercial insurance behavior within the influence of Confucian culture," Finance Research Letters, Elsevier, vol. 72(C).
    12. Yang, Xiaolan & Zhang, Lele & Hong, Xiaoyue & Li, Wenchao, 2024. "Can digital financial inclusion facilitate intergenerational income mobility? Evidence from China," Journal of Comparative Economics, Elsevier, vol. 52(4), pages 951-962.
    13. Fu, Xintong & Guo, Chunjuan, 2025. "Digital inclusive finance and the construction of agricultural modernization," International Review of Economics & Finance, Elsevier, vol. 102(C).
    14. Qing, Jing & Chen, Juan, 2024. "Digital village construction and its mechanistic on farmer entrepreneurship," Finance Research Letters, Elsevier, vol. 70(C).
    15. Hu, Siyang & Liu, Dongyang, 2025. "Digital economy, financial literacy, and financial risk-taking in rural households," International Review of Economics & Finance, Elsevier, vol. 98(C).
    16. Feng, Jianghua & Wang, Yu, 2024. "Does digital inclusive finance promote agricultural development?A test based on threshold and spillover effects," Finance Research Letters, Elsevier, vol. 69(PA).
    17. Yang, Gang & Yuan, Gongming & Kou, Junhao & Jiau, Shyhyan, 2025. "Impact of inclusive finance on private enterprise Lending: Evidence from China private enterprise survey," International Review of Economics & Finance, Elsevier, vol. 101(C).
    18. Che, Weina & Jia, Haoyi, 2025. "Corporate governance level, financial robustness, and goodwill bubbles," International Review of Economics & Finance, Elsevier, vol. 102(C).
    19. Yang, Ming & Peng, HuaTao & Yue, Shunli, 2025. "How returning home for entrepreneurship affects rural common prosperity," International Review of Economics & Finance, Elsevier, vol. 98(C).
    20. Huang, Guangfeng & Wu, Shuying & Chen, Lishuang, 2025. "Research on differentiated empowerment mechanisms of digital finance and social security inputs on farmers' entrepreneurship - A deep analysis based on regional characteristics and threshold effects," International Review of Economics & Finance, Elsevier, vol. 102(C).
    21. Wang, Yao & Wu, Xuenan & Lin, Boqiang, 2025. "Empowering green households: How does digital finance influence household carbon footprints?," Research in International Business and Finance, Elsevier, vol. 76(C).
    22. Li, Bin & Pan, Ya, 2025. "Digital inclusive finance and rural entrepreneurial survival: The moderating role of digital and financial literacy," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 1119-1136.

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