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The Role of Tourism, Technological Innovation, and Globalization in Driving Energy Demand in Major Tourist Regions

Author

Listed:
  • Mohammad Ridwan

    (Department of Economics, Noakhali Science and Technology University, Sonapur, Noakhali-3814, Bangladesh,)

  • Afsana Akther

    (Department of Economics, Noakhali Science and Technology University, Sonapur, Noakhali-3814, Bangladesh,)

  • Mujeeb Saif Mohsen Al Absy

    (Department of Accounting and Financial Science, College of Administrative and Financial Science, Gulf University, Sanad, 26489, Kingdom of Bahrain,)

  • Muhtasib Sarker Tahsin

    (Department of Business Administration and Management, International American University, Los Angeles, California, United States,)

  • Abdul Rahim Ridzuan

    (Institute for Big Data Analytics and Artificial Intelligence, Universiti Teknologi MARA, Shah Alam, 40450, Malaysia; & Faculty of Business and Management, Universiti Teknologi MARA, Puncak Alam Campus, 42300 Bandar Puncak Alam, Selangor, Malaysia; & Centre for Economic Development and Policy, Universiti Malaysia Sabah, Kota Kinabalu, 88400, Malaysia,)

  • Onur Yagis

    (Independent Researcher, Canakkale, 17000, Türkiye,)

  • K. P. Jaheer Mukhtar

    (Kristu Jayanti College Autonomous, Bengaluru, Karnataka, India.)

Abstract

This extensive study explores the complex relationship between tourism, technological innovation, globalization, and energy use in leading tourist region consist of UK, USA, Mexico, Austria, France, Germany, Greece, Italy, and Spain from 1990 to 2019. The research examines the effects of key factors on energy consumption dynamics using the Marshallian Demand Function. The study utilized the Panel Autoregressive Distributive Lag Model (ARDL) in addition to Quantile Regression techniques to explore the intricate connections between the explanatory and dependent variables. The results highlight that increase in economic growth, technological innovation, and globalization increased energy consumption in the prominent tourist region. On the other hand, tourism and trade openness were discovered to have an inverse correlation with energy consumption. This study provides valuable insights into the intricate dynamics that influence energy consumption patterns in prominent tourist regions. Policymakers should focus on sustainable economic growth by investing more on green technology through domestic investment and as well as attracting cleaner technologies from international trade activities.

Suggested Citation

  • Mohammad Ridwan & Afsana Akther & Mujeeb Saif Mohsen Al Absy & Muhtasib Sarker Tahsin & Abdul Rahim Ridzuan & Onur Yagis & K. P. Jaheer Mukhtar, 2024. "The Role of Tourism, Technological Innovation, and Globalization in Driving Energy Demand in Major Tourist Regions," International Journal of Energy Economics and Policy, Econjournals, vol. 14(6), pages 675-689, November.
    • Handle: RePEc:eco:journ2:2024-06-66
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    More about this item

    Keywords

    Energy Use; Tourism; Technological Innovation; Globalization; Marshalian Demand Function;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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