Search Results (11)

This paper provides a conceptual analysis of pollution control in the hospitality industry, focusing on pollution generated by hotel operations. Hotels produce significant waste, emissions, and wastewater, impacting environmental and public health. We propose a framework distinguishing between flow and stock pollutants to highlight how both immediate emissions and long-term pollutant accumulation inform pollution management strategies. Using a conceptual framework, with an optimal dynamic model for pollution control, we illustrate the trade-offs hotels face in optimizing pollution control. Practical methods, from regulatory compliance to voluntary sustainability initiatives and economic incentives, are explored to support effective pollution mitigation. While achieving zero emissions is often impractical, an optimal pollution level allows hotels to balance environmental responsibility with economic feasibility, contributing to sustainable tourism and aligning with the values of eco-conscious consumers. Full article

This paper explores the intersection of tourism and environmental theories, highlighting how sustainability serves as a critical bridge between the two disciplines. Tourism theories such as Butler’s Tourism Area Life Cycle (TALC) and the Theory of Planned Behavior (TPB) provide insights into destination development and tourist behavior but often lack an ecological perspective. The environmental framework, including Ecological Modernization Theory (EMT) and Common-Pool Resource (CPR) Theory, emphasizes sustainable resource management and the interconnectedness of human activities and natural systems. This paper examines common concepts such as carrying capacity, sustainable development, and behavioral insights while also identifying tensions between economic growth and environmental preservation. Case studies from Costa Rica, Hawaii, and Thailand illustrate practical applications of these theories in real-world settings, revealing how tourism can be both a threat and a tool for conservation. My paper concludes that integrating environmental impact assessment (EIA) and community-based tourism (CBT) models into tourism planning can lead to better long-term resource management. It recommends the adoption of stricter regulations on tourism development in fragile ecosystems, the implementation of eco-certifications, and the promotion of locally governed tourism initiatives. These strategies will ensure the sustainability of both tourism activities and the ecosystems on which they depend. Full article

Hotel certifications have become increasingly vital in promoting sustainability within the hospitality industry, providing frameworks that guide hotels toward reducing their environmental footprint, enhancing operational efficiency, and gaining a competitive edge in the marketplace. This review explores the development, types, and impact of hotel certifications, with a focus on prominent schemes, such as LEED, Green Key, and EarthCheck. Through an analysis of case studies from globally recognized hotels, we highlight how certifications contribute to significant reductions in energy and water use, improved waste management, and enhanced biodiversity protection, while also delivering economic benefits through cost savings and increased guest loyalty. Our paper also examines consumer perceptions of certifications and their willingness to pay (WTP) for certified hotels. The findings suggest that eco-conscious travelers, particularly younger generations, are willing to pay a premium for hotels that demonstrate a commitment to sustainability; however, consumer awareness of certification schemes remains limited. The barriers to adopting certifications, such as high initial costs, resource limitations, and management resistance, are also discussed, along with the challenges posed by greenwashing and the proliferation of certification schemes. Looking to the future, this review identifies key trends that will shape the evolution of hotel certifications, including increased transparency, the integration of smart technologies, the expanding role of social responsibility, and their alignment with global sustainability goals, such as the United Nations Sustainable Development Goals (SDGs). Hotel certifications are not only crucial for environmental sustainability, but also serve as a powerful tool for enhancing the economic viability of hotels in an increasingly competitive and sustainability-driven market. Full article

The hospitality sector is a substantial energy consumer, driven by the demands of heating, cooling, lighting and guest amenities. This study explores energy consumption patterns across different hotel types, highlighting luxury hotels’ higher usage compared to mid-range and budget establishments. Key energy drivers include HVAC systems, lighting and hot water. Legislative frameworks, such as the Paris Agreement, the Sustainable Development Goals and European Union directives, set ambitious energy efficiency and emissions targets for the sector. Through case studies on Marriott, Hilton and Hotel Verde, the study demonstrates effective energy-saving practices, including LED lighting, smart HVAC systems and renewable energy integration, which can reduce energy use by 10–20%. The findings show the dual benefits of these measures, which enhance environmental sustainability and reduce operational costs. By adopting these practices, hotels can align with evolving regulatory standards and cater to the growing demand for eco-friendly accommodations. Full article

The present paper investigates the relationship between stock prices, credit ratings, and ESG scores for banks internationally. First, it describes stock prices and ESG scores at an annual frequency, as well as stock price and credit risk at a daily frequency. The relationships between (a) stock price and credit rating returns with ESG score returns and (b) among ESG scores are examined by pairwise annual correlation, and daily correlations are examined between price and credit rating returns. Furthermore, Granger causality is used to examine the relationships between the following: (a) price and ESG score annual returns; (b) price and credit rating daily returns; and (c) total and pillar annual ESG scores. This study makes a significant contribution to the literature by providing a detailed temporal analysis using both annual and daily data frequencies, which is relatively rare in the field. There is evidence of statistically and empirically important relations in the form of pairwise correlations. The regressions reveal a low significance of few ESG score changes in explaining credit rating changes. A unique aspect of this paper is the comprehensive analysis of 16 granular ESG scores, including overall scores, pillar scores, and sub-scores, allowing for a multi-faceted understanding of how specific ESG factors impact financial metrics. We found evidence of the significance of COVID-19 in all research questions. Additionally, this paper highlights the impact of the COVID-19 pandemic on the relationships between ESG scores, credit ratings, and stock prices, offering timely insights into the heightened importance and volatility of ESG factors during crisis periods. Future research needs to shed more light on this relationship, however. Full article

Wellness tourism is a growing segment that destinations can rely on to increase tourism flows and revive underdeveloped rural areas. This study elicits tourists’ preferences for wellness tourism products and the redevelopment of a wellness destination in a depopulated rural area. The research included 595 participants in Central Greece using on-site, face-to-face surveys. The survey data were analyzed using a two-step process. First, conjoint analysis was applied to determine the combination of wellness tourism product attributes that maximize visitors’ utility. In the second step, we elicited visitors’ willingness to pay (WTP) for improvements in tourism product attributes using the contingent valuation method. The findings indicate that the combination of attributes that maximizes the preference structure of respondents includes time of visit from September to October, duration of visit from 1 to 7 days, wellness tourism as the primary purpose of the visit, and wellness activities that contain both physical activities and training as well as spiritual and emotional enhancement. Using binary logistic regression, the analysis indicates that respondents are willing to pay EUR 47.33 per visit on average further to develop wellness tourism products in the study area. Empirical results confirmed that sustainability issues, quality, and entrepreneurship factors positively impact visitors’ WTP for revitalizing wellness products. In contrast, a longer duration of stay in the area and respondents’ age negatively impact their WTP. These findings suggest that structuring a customer-driven tourism product will enhance the rural destination’s efforts to attract high-yield visitors and advance the rural economy. Furthermore, practical implications reveal that Destination Management Organizations will benefit from research results to foster targeted management plans. Full article

Climate change is directly linked to a broad array of changes because of disorganized activities within the economic system and human intervention. Climate change affects the well-being status of both non-living and living things. Relevant policies to mitigate and adapt to climate change conditions concentrate on solutions that intend to use renewable energy instead of fossil fuels or other conventional energy sources. This study aims to process a review focused on how renewables advance environmental quality and create relevant benefits within severe economic activities. This study elaborates on the case of China for two main reasons. First, China has a pivotal role in the economic system worldwide. Second, China is making serious attempts to transition into a low-carbon economy. An integrative review was processed to receive selected publications. The advantage of this process is that it considers empirical and non-empirical studies, policy papers, and conceptual frameworks. Inclusion and exclusion criteria were applied to retrieve the final number of publications. Review results from 39 well-acknowledged Journals provided 180 selected publications categorized into seven study groups: data analyses, model optimization studies, market issues, renewable energy technology publications, nuclear energy publications, ocean energy publications, and policy-related studies. Policy implications concern China’s efforts to accelerate the integration of renewables in the energy mix. Hence, the country should increase energy efficiency in consumption and process investment plans based on robust research and development efforts. Full article

Energy keeps the global economy alive, while also being extensively exposed to various climate change impacts. In this context, severe business competition (e.g., the building sector) and the unwise use of natural resources and ecosystem services (e.g., fossil fuel energy sources) seem to sharpen the relevant effects of climate change. Indicatively, contemporary issues at the interface of building energy performance and environmental quality levels include consequences from global warming, the increasing release of carbon dioxide to peak electrical loads, power grids, and building planning, and energy demand and supply issues. In light of such concerns, the present review paper attempts to disclose the multifaceted and multidisciplinary character of building energy use at the interface of the economy, the environment, and society against climate change. This review highlights energy efficiency concepts, production, distribution, consumption patterns, and relevant technological improvements. Interestingly, the reviewed contributions in the relevant literature reveal the need and necessity to alter the energy mix and relevant energy use issues. These include developments in climate-proof and effective systems regarding climate change impacts and shocks. Practical implications indicate that the sustainable development goals for clean energy and climate action should be followed if we wish to bring a sustainable future closer and faster to our reality. Full article

This paper studies the effect of a shock in the hospitality sector, namely the energy price increase, with stated preference methods and performs the subsequent analysis with a mixture of quantitative and qualitative tools. The hospitality sector is very important and is the backbone of the tourism industry worldwide. We designed and administered two semi-structured anonymous questionnaires that were sent randomly to recipients for completion. One questionnaire investigated tourists’ behavior, visit and their stay and their spending intentions, whereas the second questionnaire investigated the hoteliers/managers estimations and beliefs on energy price increases and whether or how this price increase would have an effect on tourists’ behavior and their visit, stay and spending intentions in the destination. Through two surveys, we collected answers to questions for three consecutive years—2021: representing the past/before the energy crisis, 2022: the present/the time of the crisis breakout and 2023: the future/after the crisis outbreak. Overall, a lower tourist expenditure is found for the future due to the energy price shock, but there are no significant differences between the answers of the two groups. Our results are insightful for tourism policy makers, hoteliers and managers and particularly those economies that rely heavily on tourism, e.g., island economies. Full article

The recent trend in New Economics is the establishment of measures of sustainable wealth and welfare which take into account all the parameters of economic, environmental, and social life and progress, juxtaposed to the conventional and myopic GDP. This review summarizes results from a series of recent papers in the energy-growth nexus field, which have perused a proxy for the sustainable GDP instead of the conventional GDP and discusses the difference in results and policy implications. The energy-growth nexus field itself has generated a bulk of work since the seminal study of Kraft and Kraft (1978), but still the field needs new perspectives in order to generate results with a consensus. The bidirectional causality between energy consumption and sustainable economy provides evidence for the Feedback Hypothesis, a statement that essentially warns that it is too early for sustainability to be feasible without fossil energy consumption, and vice versa. The unidirectional causality reveals, on the one side, that an economy cannot grow without the plentiful consumption of energy (the Growth Hypothesis) and, on the other side, that the growth of the economy fuels energy consumption (the Conservation Hypothesis). Failure to corroborate causality between energy consumption and economic growth is evidence for the Neutrality Hypothesis. Full article

A vast number of the energy-growth nexus researchers, as well as other “X-variable-growth nexus” studies, such as for example the tourism-growth nexus, the environment-growth nexus or the food-growth nexus have used the autoregressive distributed lag model (ARDL) bounds test approach for cointegration testing. Their research papers rarely include all the ARDL procedure steps in a detailed way and thus they leave other researchers confused with the series of steps that must be followed and the best implementation paradigms so that they not allow any obscure aspects. This paper is a comprehensive review that suggests the steps that need to be taken before the ARDL procedure takes place as well as the steps that should be taken afterward with respect to causality investigation and robust analysis. Full article