Environmental and Socio-Cultural Impact of Tourism

2019 ◽  
pp. 219-233 ◽  
Author(s):  
Ravi Sharma ◽  
Sushil S. Chaurasia ◽  
Shravan Balakrishnan
Keyword(s):  
Environmental Sustainability ◽  
Direct Contact ◽  
Regional Growth ◽  
Pairwise Comparison ◽  
Local Communities ◽  
Cultural Impact ◽  
Local Perceptions ◽  
Tourism Impact ◽  
Long Run ◽  
The Impact

The significance of examining and assessing environmental impacts of tourism is vital for maintaining environmental sustainability and regional growth in the long run. The purpose of this study is to understand the local perceptions of environmental effects caused due to tourism. A pre-tested survey mechanism for the impact pointers was used to collect the data. Analysis of variance pairwise comparison test was used to identify any significant variance in the respondents' perceptions towards selected factors of tourism impact based on locality. The results show that the local communities have strong perceptions of the undesirable economic influences of tourism although it is also signified that certain people who are in no direct contact with the tourism location perceive it in a projected way.

scholarly journals COMMUNITY PARTICIPATION OF TEMUKU AYA SUBAK TOUR DEVELOPMENT IN VILLAGE OF TAJEN, PENEBEL DISTRICT, TABANAN REGENCY

2017 ◽  
Vol 3 (1) ◽  
pp. 20
Author(s):  
Gusti Ayu Putu Indah Trisna Dewi ◽  
I Wayan Pantiyasa
Keyword(s):  
Environmental Impact ◽  
Community Participation ◽  
Local Community ◽  
Local Communities ◽  
Cultural Impact ◽  
Analysis Technique ◽  
Tourism Potential ◽  
The Impact ◽  
The Village ◽  
Depth Interviews

The purpose of this research was to know the tourism potential of Temuku Aya Subak Tour seen from 3A that were an attraction, access, and facility. In addition, to know the participation of local communities, as well as the impact of Temuku Aya Subak Tour development to the local community. Temuku Aya Subak Tour is located in Tajen Village and developed by local people who see the potential of tourism in this village.Data collection techniques used were in-depth interviews, observation, and documentation. The analysis technique used was descriptive qualitative analysis and also Triangulation data. The results showed Temuku Aya Subak Tour had the potential of natural rice fields and plantations. Temuku Aya Subak Tour also offered tourism activities as well as the preservation of local culture and traditions. In addition, local communities also participated as investors and as employees in the development of Temuku Aya Subak Tour. The tour economic impact could provide employment. From the socio-cultural impact, it could keep the local customs and traditions of the village, and from environmental impact, the local community could be more aware of the cleanliness of the village environment.

Nexus of Green Management, Green Marketing, Sustainability, and Financial Performance

2021 ◽  
pp. 353-373
Author(s):  
Adenike Oyelola Soogun
Keyword(s):  
Financial Performance ◽  
Environmental Sustainability ◽  
Financial Services ◽  
Marketing Strategies ◽  
Green Marketing ◽  
Green Management ◽  
Firm Financial Performance ◽  
Long Run ◽  
Holistic Practice ◽  
The Impact

Consumer and organizational awareness of environmental sustainability is ever increasing. In the era of global warming and climate change, organizations need to move away from traditional marketing strategies to green marketing strategies and green management to remain sustainable. The objectives of this chapter are to provide stakeholders with the overview and importance of green marketing, establish the link between green marketing mix and strategic green marketing, and reveal what organizations should focus on in developing green management to remain competitive and profitable. Green marketing strategies activities for financial services were highlighted, and lastly, the authors examined the impact of green management on firm financial performance. The chapter offers a holistic practice and recommendation of going green for both financial services and other businesses. Practical implications for managers were pointed out through commitment to green marketing and management to yield positive outcomes on firm financial performance in the long run.

The effects of announcement of green policies on equity portfolios

2016 ◽  
Vol 31 (2) ◽  
pp. 138-155 ◽  
Author(s):  
Vikash Ramiah ◽  
Thomas Morris ◽  
Imad Moosa ◽  
Michael Gangemi ◽  
Louise Puican
Keyword(s):  
Environmental Sustainability ◽  
Abnormal Returns ◽  
Systematic Risk ◽  
Environmental Policies ◽  
Wealth Creation ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
Equity Portfolios ◽  
The Impact

Purpose – This paper aims to investigate the impact of 75 announcements of environmental policies on British equities over the period 2003 to 2012. In particular, the research has the following specific objectives: finding out whether there is wealth creation/destruction for investors as a result of the announcements of green policies and identifying changes in risk structure following the introduction of green policies. Design/methodology/approach – Using event study methodology and non-parametric tests, the authors attempt to find out whether announcements of environmental/sustainability policies are value constructive or destructive for equity investors. The CAPM is fitted with interaction variables to measure the change in systematic risk following announcements. Findings – The results show that the UK market is particularly sensitive to domestic, international and nuclear announcements. Cumulative abnormal returns in the range of 30-40 per cent were recorded in certain sectors. Consistent with the emerging literature, the authors observe that environmental policies induce changes in the systematic risk of businesses, both in the short run and the long run. Originality/value – To the best of authors’ knowledge, the literature does not provide any answer as to how the risk and return of British equity portfolios change following the announcement of green policies in the aftermath of the Kyoto Protocol on climate change. Furthermore, the literature does not differentiate among various categories of announcements (domestic, international and nuclear). Therefore, this paper bridges the gap in the literature on these two grounds.

scholarly journals Residents’ perceptions of wine tourism on the rural destinations development

2019 ◽  
Vol 122 (8) ◽  
pp. 2739-2753 ◽  
Author(s):  
Darko B. Vukovic ◽  
Moinak Maiti ◽  
Aleksandra Vujko ◽  
Riad Shams
Keyword(s):  
Interpersonal Communication ◽  
Local Population ◽  
Local Communities ◽  
Policy Implications ◽  
Cultural Impact ◽  
Content Type ◽  
Wine Tourism ◽  
Path Diagram ◽  
Rural Destinations ◽  
The Impact

Purpose The purpose of this paper is to study the impact of wine tourism on rural destination development. Consequently, this study attempts to develop contemporary insights on this under-researched area such as residents’ perceptions of wine tourism and its impact on the rural destination development. Design/methodology/approach In this study, the authors used a structured survey questionnaire from a random sample of 318 respondents based on the Fruška Gora Mountain in Serbia. Research also used structural equational modeling for empirical econometric testing in this data sample. This technique is appropriate for multivariate analysis. Findings Personal resident benefit associated with wineries is positively related to resident perceived economic impact (H1) R2=0.624; socio-cultural impact (H2) R2=0.685 and environmental impact (H3) R2=0.716 of wineries on local communities. Looking at the path diagram, the authors concluded that personal resident benefit associated with wineries is strongly related to resident perceived impact of wineries on local communities as regression weights are higher. Other findings relate those residents’ positive perceptions of wine tourism to increases in sales revenue, environmental protection, intrapersonal and interpersonal communication. Research limitations/implications The positive attitude of the local population is an essential link of development. Such understanding of residents’ perceptions optimizes destination management in the future and, more importantly, local sustainable development. This has high policy implications. Originality/value The present study contributes to the scientific circles by connecting perception research with wine tourism.

Probing Environmental Sustainability through Institutional Quality in South Asia

2018 ◽  
Author(s):  
Ghulam Rasool Madni
Keyword(s):  
Energy Consumption ◽  
South Asia ◽  
Co2 Emissions ◽  
Environmental Sustainability ◽  
Co2 Emission ◽  
Positive Impact ◽  
Institutional Quality ◽  
Kuznets Curve ◽  
Long Run ◽  
The Impact

The impact of institutional quality on environmental sustainability is hardly discussed in literature in spite of its crucial role for economies. This article explores the relationship of institutional quality, energy consumption and real GDP on carbon dioxide (CO2) emissions for selected countries of South Asia covering the period of 1996-2015 by applying unit root tests and the starter panel technique. The findings of study highlight that institutional quality in these countries matter for emission of environmental pollutants. The estimated results reveal the significant positive impact of energy consumption on CO2 emission in long run and economic growth has a quadratic relationship with CO2 emission. However, the EKC (Environmental Kuznets Curve) hypothesis is proved by estimation of long run coefficients of real per capita income and its square value. The findings of study propose that not all countries have to sacrifice growth to reduce CO2 emissions as it can be reduced through energy conservation and improved institutional quality.

scholarly journals Economic Benefits from Biking Trails and Greenways

2019 ◽  
Vol 9 (2) ◽  
pp. 199
Author(s):  
Kalyan Chakraborty
Keyword(s):  
Rural Communities ◽  
Economic Impact ◽  
Economic Benefits ◽  
Local Communities ◽  
Economic Resources ◽  
Health And Wellbeing ◽  
Individual Health ◽  
Long Run ◽  
Rural Economies ◽  
The Impact

Due to a growing need for health and wellbeing of the urban population and revitalization of the rural economies biking has become one of the top recreational activities is the U.S. While the impact of individual health and wellbeing from biking activities well recognized in the literature, the economic impact of bike tourism in rural communities is less recognized. The purpose of this paper is to review the studies on the economic impact of biking trails and greenways on the local communities and provide a guideline on how to undertake such studies based on available methodologies in the literature. In doing so, the paper discusses the objectives and goals for creating infrastructure for greenway and biking trails in the local communities including methodologies used to assess the economic impacts. This study concludes that for a long-run sustainable development, local community’s social and economic resources that already exist can be utilized for building biker friendly communities.

scholarly journals Solar Energy and CO2 Emissions: CCEMG Estimations for 26 Countries

2021 ◽  
Author(s):  
Taner Güney ◽  
Duygu Ince
Keyword(s):  
Energy Consumption ◽  
Solar Energy ◽  
Cross Section ◽  
Environmental Sustainability ◽  
Causality Test ◽  
Fossil Energy ◽  
Long Run ◽  
Common Correlated Effects ◽  
The Common ◽  
The Impact

Abstract The impact of renewable energy on environmental sustainability has become much more critical in the era of globalization. Therefore, this study examines the long-run relationships between solar energy consumption, coal energy consumption, financial globalization, economic growth, and CO2 emissions for 26 countries from 2000-2019. We preferred the common correlated effects mean group (CCEMG) method, which considers the cross-section dependence and slope homogeneity observed in the panel. According to CCEMG estimates, solar energy consumption has a negative and significant effect on the level of carbon emissions. Accordingly, a 1% increase in solar energy causes a 0.0106671% reduction in CO2 emissions. On the other hand, a 1% increase in fossil energy consumption causes a rise of 0.2403829% in CO2 emissions. Furthermore, the empirical results of the causality test showed a bidirectional causality between solar energy consumption and CO2 emissions. As a result, this study reveals the importance of solar energy in reducing CO2 emissions.

scholarly journals ECONOMIC GROWTH VERSUS ENVIRONMENTAL SUSTAINABILITY: AN ANALYSIS OF ENVIRONMENTAL KUZNETS CURVE IN CASE OF INDIA

2021 ◽  
pp. 13-21
Author(s):  
Dr. Sumedha Pandey
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
World War Ii ◽  
Environmental Degradation ◽  
Environmental Sustainability ◽  
Environmental Kuznets Curve ◽  
Adam Smith ◽  
Kuznets Curve ◽  
Long Run ◽  
The Impact

Economic growth became the buzzword for planners and policymakers after the great devastation of World War II. Every country, rich and poor was planning to achieve higher growth rate to reach the take-off stage (Rostow). In 1950s and early 1960s, economic growth and economic development were considered synonymous but later on, economic development acquired a wider meaning i.e., growth was associated with increase in goods and services while economic development included such important factors like education, health which impact quality of life. But even then, greater emphasis was on economic growth because right from Adam Smith to modern economists, growth was the basic condition of economic welfare. To achieve an ever-increasing growth, resources (natural and man-made) are/were continuously being exploited. But the question that became important here was whether this growth or in wider sense development, sustainable? With time, the form of resource use has changed from usage to exploitation negatively impacting the environment. Can this growth process be allowed at the cost of environmental degradation? So, concerns have been raised from time to time to address this issue. In this context, this paper analyses the impact of rising per capita income, population density and construction activities on carbon emissions (a proxy of environmental degradation) to check the applicability of Environmental Kuznets Curve (EKC) in case of India. Results suggest a positive significant relation between the dependent variable and the independent variables, indicating towards the applicability of EKC in short-run in case of India, but not in the long-run. KEYWORDS: Economic growth, sustainable development, Environmental Kuznets Curve, environmental degradation, carbon emission

The long-run stability of a small, open economy under crawling peg regime

2002 ◽  
Vol 52 (1) ◽  
pp. 57-78
Author(s):  
S. Çiftçioğlu
Keyword(s):  
Exchange Rate ◽  
Open Economy ◽  
Risk Premium ◽  
Small Open Economy ◽  
Exchange Rate Policy ◽  
Price Stability ◽  
Output Stability ◽  
Long Run ◽  
The Exchange Rate ◽  
The Impact

The paper analyses the long-run (steady-state) output and price stability of a small, open economy which adopts a “crawling-peg” type of exchange-rate regime in the presence of various kinds of random shocks. Analytical and simulation results suggest that with the exception of money demand shocks, an exchange rate policy which involves a relatively higher rate of indexation of the exchange rate to price level is likely to lead to the worsening of price stability for all types of shocks. On the other hand, the impact of adopting such a policy on output stability depends on the type of the shock; for policy shocks to the exchange rate and shocks to output demand, output stability is worsened whereas for the shocks to risk premium of domestic assets, supply price of domestic output and the wage rate, better output stability is achieved in the long run.

Impact of exchange rate and oil price on the yield of sovereign bond and sukuk: Evidence from Malaysian capital market

2017 ◽  
Vol 5 (4) ◽  
pp. 27
Author(s):  
Huda Arshad ◽  
Ruhaini Muda ◽  
Ismah Osman
Keyword(s):  
Exchange Rate ◽  
Capital Market ◽  
Time Series Data ◽  
Oil Prices ◽  
Oil Price ◽  
Series Data ◽  
Sovereign Bond ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study analyses the impact of exchange rate and oil prices on the yield of sovereign bond and sukuk for Malaysian capital market. This study aims to ascertain the effect of weakening Malaysian Ringgit and declining of crude oil price on the fixed income investors in the emerging capital market. This study utilises daily time series data of Malaysian exchange rate, oil price and the yield of Malaysian sovereign bond and sukuk from year 2006 until 2015. The findings show that the weakening of exchange rate and oil prices contribute different impacts in the short and long run. In the short run, the exchange rate and oil prices does not have a direct relation with the yield of sovereign bond and sukuk. However, in the long run, the result reveals that there is a significant relationship between exchange rate and oil prices on the yield of sovereign bond and sukuk. It is evident that only a unidirectional causality relation is present between exchange rate and oil price towards selected yield of Malaysian sovereign bond and sukuk. This study provides numerical and empirical insights on issues relating to capital market that supports public authorities and private institutions on their decision and policymaking process.

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