Economic Impact of Sustainability Strategies on Tourism Sector Growth
Economic Impact of Sustainability Strategies on Tourism Sector Growth

Author(s): Sladjana Stojanović, Mihalj Bakator
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Economic impact; Strategies; Tourism
Summary/Abstract: This paper explores the economic impact of sustainability strategies on the growth of the tourism sector, highlighting the relationship between policy, operational innovation, and market development. Sustainability in tourism is shown to drive economic benefits through improved efficiency, resilience, and consumer appeal. The paper identifies key challenges, including high initial investment costs and resistance to change, and underlines the importance of regulatory frameworks, financial incentives, and public-private partnerships. A theoretical model highlights governance, operational practices, and consumer engagement as main elements, each supported by interconnected sub-elements. Strategies for governments, enterprises, and individuals are suggested, emphasizing the adoption of green technologies, capacity building, and sustainable consumer behaviors. The findings demonstrate that while sustainability implementation poses challenges, its long-term economic, environmental, and social advantages show the need for collaboration, innovation, and adaptability to ensure the tourism sector contributes to a sustainable future.

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