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Indian Journal of Finance

ISSN: 0973-8711 Frequency: Monthly Peer Review: Double-blind Published since: 2007 Language: English
A publication of AMCPL
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Original Article

Open Access Original Article

Sustainable Spending in Destinations : Factors Discouraging Tourists

Sabari Shankar Ravichandran1,  Elizabeth Renju Koshy2,  Subhashree Natarajan3

1 Assistant Professor , Symbiosis Institute of Business Management (SIBM), Symbiosis International (Deemed University) (SIU), Electronic City, Hosur Road, Bengaluru - 560 100, Karnataka

2 Assistant Professor, Department of Professional Studies, School of Accounting and Finance, Christ (Deemed to be University), Central Campus, Hosur Road, Near Dairy Circle, Bengaluru - 560 029, Karnataka

3 Professor and Dean, RV School of Business, RV University, RV Vidyanikethan Post, 8th Mile, Mysore Rd, Mailasandra, Bengaluru - 560 059, Karnataka

Volume 18
Issue 7
Pages 60–70
Year 2024
Received: Jan. 15, 2024 Accepted: April 10, 2024 Published: July 1, 2024
Abstract

Purpose: This study investigated the factors influencing tourists’ sustainable spending behavior in tourism destinations aimed to provide insights for policymakers and businesses to promote sustainability. The research objectives included identifying key factors affecting sustainable spending, assessing their impact, and examining their implications.

Methodology: A quantitative approach utilizing confirmatory factor analysis (CFA) was employed to analyze data collected from tourists visiting destinations.

Findings: The major findings revealed six significant factors: Perceived costs, availability, awareness, convenience, hedonism & benefits, and culture, elucidating the complex interplay shaping sustainable spending behavior.Theoretical

Implications: The importance of perceptions, awareness, and cultural norms in understanding tourists’ spending decisions has been found to be value added to the literature. A comprehensive measurement technique has been produced in the literature.Practical

Implications: This study offered insights for marketers to address perceived cost concerns, enhance availability, and promote awareness of sustainable options. Policymakers could use these findings to formulate targeted policies and incentives to encourage sustainable spending. This research also contributed to advancing the understanding of sustainable tourism spending and provided actionable insights to promote sustainability in line with the United Nations Sustainable Development Goals (UNSDGs).

Keywords sustainability spending discouraging factors tourists sustainable options
How to Cite

Sabari Shankar Ravichandran, Elizabeth Renju Koshy, Subhashree Natarajan (2024). Sustainable Spending in Destinations : Factors Discouraging Tourists. Indian Journal of Finance, 18(7), 60–70. https://doi.org/10.17010/ijf/2024/v18i7/174033

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