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Promoting eco-tourism for the green economic recovery in ASEAN

Author

Listed:
  • Hanzhi Zhang

    (Zhejiang Yuexiu University)

  • Qiang Liang

    (Tianjin University of Commerce)

  • Yu Li

    (Tianjin University of Commerce)

  • Pengpeng Gao

    (Tianjin University of Commerce)

Abstract

The green economic recovery in post-COVID-19 is a controversial issue among scholars. The primary purpose of this paper is to evaluate the impacts of the tourism sustainable development index (as a proxy of ecotourism) on the inclusive green economic growth of ASEAN (The Association of Southeast Asian Nations) member states throughout 2000–2021 through employing the system-GMM (Generalized Method of Moments) dynamic panel data approach. The findings confirmed that the tourism sustainable development index has a positive and linear relationship with the green economic growth index, confirming the existence of the TLEG (The Tourism-led Economic Growth) hypothesis. The coefficient of the official exchange rate is positive and statistically significant, whereas the good governance index positively affects green economic growth in ASEAN economies. The primary practical policies are developing the green financing market, coherent ecotourism action plans, supporting small and medium enterprises (SMEs) in the ecotourism industry, and establishing a regional ecotourism value chain.

Suggested Citation

  • Hanzhi Zhang & Qiang Liang & Yu Li & Pengpeng Gao, 2023. "Promoting eco-tourism for the green economic recovery in ASEAN," Economic Change and Restructuring, Springer, vol. 56(3), pages 2021-2036, June.
    • Handle: RePEc:kap:ecopln:v:56:y:2023:i:3:d:10.1007_s10644-023-09492-x
    DOI: 10.1007/s10644-023-09492-x
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    Cited by:

    1. Obed I. Ojonta & Jonathan E. Ogbuabor, 2024. "Effects of international tourism on environmental quality and renewable energy use in Africa: a study of the moderating role of governance institutions," Economic Change and Restructuring, Springer, vol. 57(4), pages 1-37, August.
    2. Yunfeng Shang & Qin Yang & Yuanjie Pu, 2024. "Role of foreign direct Investment and political openness in boosting the eco-tourism sector for achieving sustainability," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-8, December.
    3. Zhang, Ming & Li, Xiaoyan & Pai, Chih-Hung & Ding, Huanhuan & Zhang, Xuan, 2023. "Green credit and fossil fuel resource efficiency: Advancing sustainability in Asia," Resources Policy, Elsevier, vol. 86(PB).

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    More about this item

    Keywords

    Sustainable tourism; Green economic growth; TLEG hypothesis; ASEAN; Panel data;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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