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Reinventing the Business Model in the Tourism Industry based on Sustainable Circular Economy and Innovation

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Hybrid Conference, Opatija, Croatia, 17-18 June 2022

Author

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  • Avasiloaei, Daniela

Abstract

Today, the whole globe is facing a series of crises unprecedented in modern histories, such as health, social, economic, environmental, etc. All these crises result from an unsustainable development model based on the misuse of the planet's natural resources, threats such as climate change, and conflicts with economic, social, and environmental impacts. The crisis caused by the pandemic has accentuated new patterns of behaviour and consumption, accelerated the technological revolution, and grown concerned for sustainability. Tourism is an industry that is particularly vulnerable to the effects of climate change, the consequences of which vary widely. Therefore, sustainable solutions are in the interest of the tourism sector, and the circular economy is a life-saving solution for the tourism industry. The transition from a linear to a circular economy is presented throughout the European Union as one of the major drivers of change and Innovation. This article aims to move towards a new business model in the tourism industry based on the circular economy and Innovation by setting out the principles for applying the circular economy in tourism. New business models can help us transform the tourism industry in this disruptive process.

Suggested Citation

  • Avasiloaei, Daniela, 2022. "Reinventing the Business Model in the Tourism Industry based on Sustainable Circular Economy and Innovation," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2022), Hybrid Conference, Opatija, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Hybrid Conference, Opatija, Croatia, 17-18 June 2022, pages 435-448, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    • Handle: RePEc:zbw:entr22:268344
    DOI: 10.54820/entrenova-2022-0036
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    References listed on IDEAS

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    1. Kirchherr, Julian & Reike, Denise & Hekkert, Marko, 2017. "Conceptualizing the circular economy: An analysis of 114 definitions," Resources, Conservation & Recycling, Elsevier, vol. 127(C), pages 221-232.
    2. Fenna Blomsma & Geraldine Brennan, 2017. "The Emergence of Circular Economy: A New Framing Around Prolonging Resource Productivity," Journal of Industrial Ecology, Yale University, vol. 21(3), pages 603-614, June.
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    Cited by:

    1. El-Shayeb Mirna & El-Deeb Sara, 2023. "Developing Luxury Jewellery Consumption Scale: Integrating Dual Process Theory and Theory of Consumption," Business Systems Research, Sciendo, vol. 14(2), pages 173-189, December.

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    More about this item

    Keywords

    Circular Economy; Innovation; Business Model; Tourism;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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