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

Jing Li and Bin Cao

Resources Policy, 2024, vol. 88, issue C

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.

Keywords: Solar energy deployment; Tourism sector; Green transformation; Emerging economies; Panel data (search for similar items in EconPapers)
JEL-codes: C23 L83 O11 Q48 Q50 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:88:y:2024:i:c:s0301420723011716

DOI: 10.1016/j.resourpol.2023.104460

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