From environment to finance: a multifactor synergy analysis to unlock the code of tourism revenue growth

Yongping Sun and Yingli Zheng

International Review of Economics & Finance, 2025, vol. 103, issue C

Abstract: With the increasingly fierce competition in the tourism market, exploring effective ways of tourism revenue growth has become the focus of attention in both academia and industry. Based on the tourism data of 31 provinces from 2007 to 2023, this paper systematically studies the synergistic effects of business environment optimization, regional financial development and tourism technology innovation on tourism revenue growth. The results show that the optimization of business environment is an important foundation for tourism revenue growth, which can create a good environment for enterprise development, and then improve the comprehensive competitiveness of the tourism industry and promote the growth of tourism revenue. Tourism technology innovation has a moderating role in the process of optimizing the business environment to promote tourism revenue growth, which can improve the efficiency of tourism services, meet the diversified needs of tourists, and enhance the positive effect of optimizing the business environment on tourism revenue growth. The level of financial development plays an indispensable intermediary role between the optimization of business environment and tourism revenue growth, and this intermediary role varies according to the differences in regional characteristics; in economically developed regions with a high degree of openness, the promotion of financial development on the growth of tourism revenues is more prominent; in economically underdeveloped regions with a low degree of openness, the promotion of financial development needs to be further explored. This study provides new ideas and bases for promoting the high-quality development of the tourism industry.

Keywords: Optimization of the business environment; Regional financial development; Growth in tourism revenue; Tourism technological innovation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:103:y:2025:i:c:s105905602500557x

DOI: 10.1016/j.iref.2025.104394

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