Tourism plays a crucial role in driving economic development, and there is a growing demand to integrate sustainability into the sector, particularly in the financial practices of governments. This study introduces the Quintessence Sustainable Tourism Public Finances (QSustainableTPF) model, which combines five established financial models commonly used in the tourism industry. The research aims to identify statistically significant relationships between these models and assess their impact on sustainability and financial performance in tourism. A quantitative methodology was employed, with data collected from financial reports and budget documents of both local and central governments, along with a survey of 2099 citizens and visitors conducted during the 2023–2024 period. Statistical analysis was performed using SPSS and AMOS, incorporating exploratory factor analysis (EFA), reliability testing using Cronbach’s alpha, and confirmatory factor analysis (CFA). The findings underscore the essential role of public finance in supporting tourism sustainability, particularly through transparent budgetary practices, efficient allocation of resources, and targeted investment in local tourism initiatives. The analysis reveals key insights into the benefits of financial transparency, citizen-centred budgeting, and the promotion of innovation in tourism finance. The interconnectedness of the five models highlights the importance of responsible public financial management in fostering tourism growth, enhancing investment, and ensuring long-term financial sustainability in the sector. The study offers practical implications for policymakers, advocating for the adoption of transparent and innovative financial practices to boost tourism development. It also recommends further research to broaden the scope across different regions, integrating additional public finance dimensions to strengthen sustainable tourism growth.
The purpose of this study is to explore new financial product’s impact on the behaviour of individual investors. To analyze investors’ risk and return expectations, this article investigates trading volumes before and after the introduction of financial product innovation. An event research technique was used to gather data from the National Stock Exchange. Data was analyzed using descriptive statistics and the Sharpe ratio approach, which were provided by different investors. The research results highlight that individual investors’ overreaction behaviour is brought out by financial product innovation. Furthermore, the study’s results imply that rising trading volumes are not entirely explained by updated risk-adjusted returns and that new financial products lead to excessive trading by investors and lowering returns. Higher trading volumes are not explained by better risk-adjusted returns. Young investors often respond irrationally to information offered by financial advisors, resulting in short-term gains at the expense of long-term gains. The study demonstrates that the development of innovative financial products does not always result in investors’ long-term prosperity. Worse outcomes and excessive trading could follow from it. The paper concludes by providing various real-world implications that the benefits and drawbacks of innovative financial products should be spelled out in detail by financial institutions and representatives. his research contributes to the implementation of individual investors’ overreaction behaviour that is brought out by financial product innovation. It highlights that higher trading volumes are not explained by better risk-adjusted returns.
Local community members play a critical role in the success of conservation projects, which in turn have the potential to influence the perceptions of local people. Relationships matter when it comes to sustainable long-term conservation and community well-being. The study aims to establish the relationship between local communities and wildlife conservation organizations in the context of Phinda Private Game Reserve and the Mnqobokazi community, located in South Africa. Data was collected using the qualitative methods of interviews and focus group discussions. The findings show that a symbiotic relationship between conservation organizations and local community members is critical in conserving the environment. The research indicates that both participation and benefits result in improved perceptions towards the protected area and a strong positive relationship. The accrual of benefits also appears to result in pro-environmental consciousness amongst community members. Several existing studies examine participation or benefit-sharing in community-based tourism in developing nations. However, less is known about the relationships between local communities and conservation organizations and the effect of participation and beneficiation on these relationships. This research narrows this gap in the body of knowledge by qualitatively examining a single case study. The findings add value to global collaborative efforts aimed at achieving positive relationships between communities and conservation management.
Natural Protected Areas (NPAs) are critical for biodiversity conservation and ecological balance. These areas are not only refuges for wildlife but also pivotal in promoting sustainable tourism. Geoparks, a unique subset of NPAs, emphasize geological heritage, offering distinctive educational and recreational opportunities. This article explores the significance of Geoparks in Portugal for geotourism and assesses the accessible digital communication strategies of Portuguese Geoparks, emphasizing the analysis of pedagogical concerns. The study highlights the importance of online engagement in enhancing visitor experiences and promoting sustainable tourism practices.
This study aims to analyze Closed Varosha, a prominent tourist destination in the Eastern Mediterranean, as a traumatic landscape in the 1970s. This study also seeks to evaluate this site from the perspective of landscape architecture, with a particular focus on urban memory and dark tourism concepts, and to introduce the concept of “traumatic landscapes” to the existing literature on the subject. The case study analysis, on-site observation and document examination techniques were employed as research methods. A comprehensive literature review was conducted as part of this study, encompassing data on Closed Varosha, the study area, and its surrounding context. The Varosha city visited with the assistance of a travel guide, and comprehensive information and visual materials (photographs, video footage, etc.) collected in the field study. Study results proposed that the landscapes where social traumas are experienced and which have become a symbol should be used for cultural and scientific activities. This may be achieved by making use of urban memory in order to transform these landscapes into an improved version of the existing ones. Furthermore, this could serve to awaken the awareness of universal peace in visitors within the scope of dark tourism. Another potential avenue for exploration is the organization of common sense workshops with the participation of stakeholders from both communities. This could facilitate the development of future solutions through a participatory approach. Additionally, there is a need to expand transnational and multidisciplinary studies. This would enable future generations to engage in dialogue about Closed Varosha in a constructive manner.
