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

Mohammad Ridwan, Afsana Akther, Mujeeb Saif Mohsen Al Absy, Muhtasib Sarker Tahsin, Abdul Rahim Ridzuan, Onur Yagis and K. P. Jaheer Mukhtar
Additional contact information
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.

International Journal of Energy Economics and Policy, 2024, vol. 14, issue 6, 675-689

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.

Keywords: Energy Use; Tourism; Technological Innovation; Globalization; Marshalian Demand Function (search for similar items in EconPapers)
JEL-codes: D11 F60 L83 O33 Q43 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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