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Resources policies for solar development and eco-tourism expansion in emerging economies

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  • Li, Jing
  • Cao, Bin

Abstract

This research employs a thorough panel data analysis encompassing 10 emerging economies to assess the influence of solar energy consumption on tourism development spanning from 2000 to 2022. Using the CUP-FM (continuously updated full modified) technique, the results unveil a noteworthy and positive correlation. A 1% increase in solar energy consumption is associated with an approximate 0.35% upswing in tourist arrivals, underscoring the pivotal role of solar energy investment in expanding the tourism sector. Factors such as economic stability, price competitiveness, and a balanced approach to technological advancements play key roles in fostering a thriving tourism industry. The implementation of pragmatic policies, including increased funding for solar projects, the establishment of a green bonds market, digitalization of the green financial sector, and exploration of cryptocurrency for solar initiatives, can significantly bolster the tourism sector and advance sustainable energy initiatives.

Suggested Citation

  • Li, Jing & Cao, Bin, 2024. "Resources policies for solar development and eco-tourism expansion in emerging economies," Resources Policy, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:jrpoli:v:88:y:2024:i:c:s0301420723011716
    DOI: 10.1016/j.resourpol.2023.104460
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    More about this item

    Keywords

    Solar energy deployment; Tourism sector; Green transformation; Emerging economies; Panel data;
    All these keywords.

    JEL classification:

    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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