Sustainable Spending in Destinations : Factors Discouraging Tourists

Title

Sustainable Spending in Destinations : Factors Discouraging Tourists

Creator

Ravichandran S.S.; Koshy E.R.; Natarajan S.

Description

Purpose: This study investigated the factors influencing tourists sustainable spending behavior in tourism destinations aimed to provide insights for policymakers and businesses to promote sustainability. The research objectives included identifying key factors affecting sustainable spending, assessing their impact, and examining their implications. Methodology: A quantitative approach utilizing confirmatory factor analysis (CFA) was employed to analyze data collected from tourists visiting destinations. Findings: The major findings revealed six significant factors: Perceived costs, availability, awareness, convenience, hedonism & benefits, and culture, elucidating the complex interplay shaping sustainable spending behavior. Theoretical Implications: The importance of perceptions, awareness, and cultural norms in understanding tourists spending decisions has been found to be value added to the literature. A comprehensive measurement technique has been produced in the literature. Practical Implications: This study offered insights for marketers to address perceived cost concerns, enhance availability, and promote awareness of sustainable options. Policymakers could use these findings to formulate targeted policies and incentives to encourage sustainable spending. This research also contributed to advancing the understanding of sustainable tourism spending and provided actionable insights to promote sustainability in line with the United Nations Sustainable Development Goals (UNSDGs). 2024, Associated Management Consultants Pvt. Ltd.. All rights reserved.

Source

Indian Journal of Finance, Vol-18, No. 7, pp. 60-70.

Date

2024-01-01

Publisher

Associated Management Consultants Pvt. Ltd.

Subject

discouraging factors; spending; sustainability; sustainable options; tourists

Coverage

Ravichandran S.S., Symbiosis Institute of Business Management (SIBM), Symbiosis International (Deemed University) (SIU), Electronic City, Hosur Road, Karnataka, Bengaluru, 560 100, India; Koshy E.R., Department of Professional Studies, School of Accounting and Finance, Christ (Deemed to be University), Central Campus, Hosur Road, Near Dairy Circle, Karnataka, Bengaluru, 560 029, India; Natarajan S., RV School of Business, RV University, RV Vidyanikethan Post, 8th Mile, Mysore Rd, Mailasandra, Karnataka, Bengaluru, 560 059, India

Rights

Restricted Access

Relation

ISSN: 9738711

Format

Online

Language

English

Type

Article

Identifier

https://doi.org/10.17010/ijf/2024/v18i7/174033

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85200360820&doi=10.17010%2fijf%2f2024%2fv18i7%2f174033&partnerID=40&md5=8e1fbb05d228a2bef1731415c3968bdd