Sustainable Spending in Destinations : Factors Discouraging Tourists

Authors

  •   Sabari Shankar Ravichandran Assistant Professor (Corresponding Author), Symbiosis Institute of Business Management (SIBM), Symbiosis International (Deemed University) (SIU), Electronic City, Hosur Road, Bengaluru - 560 100, Karnataka
  •   Elizabeth Renju Koshy Assistant Professor, Department of Professional Studies, School of Accounting and Finance, Christ (Deemed to be University), Central Campus, Hosur Road, Near Dairy Circle, Bengaluru - 560 029, Karnataka
  •   Subhashree Natarajan Professor and Dean, RV School of Business, RV University, RV Vidyanikethan Post, 8th Mile, Mysore Rd, Mailasandra, Bengaluru - 560 059, Karnataka

DOI:

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

Keywords:

sustainability

, spending, discouraging factors, tourists, sustainable options.

JEL Classification Codes

, Z32, Z33, Z38

Paper Submission Date

, January 15, 2024, Paper sent back for Revision, March 10, Paper Acceptance Date, April 10, Paper Published Online, July 15, 2024

Abstract

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).

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Published

2024-07-01

How to Cite

Ravichandran, S. S., Koshy, E. R., & Natarajan, S. (2024). Sustainable Spending in Destinations : Factors Discouraging Tourists. Indian Journal of Finance, 18(7), 60–70. https://doi.org/10.17010/ijf/2024/v18i7/174033

Issue

Volume 18, Issue 7, July 2024

Section

Articles
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Europe PMC

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