article · Sustainability
An econometric assessment of selected South Asian economies from 1990 to 2016 investigates how international inbound tourism demand relates to regional trade integration and the transition to renewable energy. By accounting for cross-sectional dependency and slope heterogeneity across the examined countries, the analysis shows that expanding intra-regional trade leads to positive growth in international inbound tourism demand. Simultaneously, shifting towards renewable energy sources provides an additional stimulus to inbound tourism. The joint presence of regional trade integration and renewable energy adoption yields further positive effects across the region. Consequently, the evidence suggests that national strategies focused on deepening trade cooperation with neighbouring countries, combined with initiatives to increase the share of renewable energy consumption, serve as mutually reinforcing drivers for expanding international tourism demand.
Countries seeking to build sustainable tourism sectors can benefit from aligning clean energy targets with regional commerce strategies. Demonstrating that renewable energy adoption and trade integration mutually boost international visitor demand offers policymakers a concrete rationale to coordinate energy transitions with cross-border trade agreements, supporting wider economic growth alongside environmental objectives.
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This paper aims to evaluate the overarching relationships between International Inbound Tourism Demand (IITD), regional trade integration and Renewable Energy Transition (RET) in the context of selected South Asian economies between 1990 and 2016. The results from the panel data econometric analyses, accounting for cross-sectional dependency and slope heterogeneity issues, showed that higher degrees of intra-regional trade between the South Asian economies exert positive impacts on the IITD in South Asia. Similarly, undergoing a RET was found to stimulate the IITD further. Besides, the joint favorable impacts of regional trade integration and RET on South Asia’s IITD were also ascertained. Therefore, these findings impose key policy implications concerning the pertinence of strengthening regional trade cooperation between the South Asian neighbors and boosting renewable energy consumption for enhancing the IITD further.
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DOI: 10.3390/su12208341
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