Green Finance as an Innovative Solution for Transforming the Tourism Industry: A Bibliometric Study
Keywords:
green finance, tourism, sustainability, bibliometric analysisAbstract
Green finance has an important role in supporting sustainable tourism development while still considering economic, social, and environmental impacts. The urgency of this research lies in green finance which is an innovative solution in funding environmentally friendly projects so that it becomes a great opportunity to encourage the transformation of the tourism industry towards sustainable practices. This research aims to map trends and green finance research networks that play a role in supporting sustainable tourism development. Data analysis was carried out using bibliometric methods sourced from the Scopus database. The results obtained were in the form of a dataset consisting of 654 documents and processed using Rstudio and Biblioshiny. The results show that there has been a significant increase in publications in 2020-2023. It can also be seen that there is a connection between the application of green finance in realizing sustainable development. This is an opportunity to apply to the tourism industry. Apart from that, it was also found that there was a concentration on this research topic in China. It is hoped that the findings of this research will produce a better understanding of trends and research networks in green finance and can contribute to the development of appropriate policies and strategies for sustainable tourism development.
References
Ahmad, T., Zhang, D., & Huang, C. (2021). Methodological framework for short-and medium-term energy, solar and wind power forecasting with stochastic-based machine learning approach to monetary and energy policy applications. Energy, 231, 120911.
Ahmi, A., & Saidin, S. Z. (2022). Current landscape of the enterprise resource planning (ERP) research: A bibliometric review. AIP Conference Proceedings, 2644(1).
Akhmedov, U. (2023). Significance of Investment Activity in Tourism and its Development.
Alsharif, A. H., Salleh, N., & Baharun, R. (2020). Bibliometric analysis. Journal of Theoretical and Applied Information Technology, 98(15), 2948–2962.
Ball, R., & Tunger, D. (2007). National and International Publications Reflected in Bibliometric Data bases= Krajowe i zgraniczne publikacje w bibliometrycznych bazach danych.
Cai, R., & Guo, J. (2021). Finance for the environment: A scientometrics analysis of green finance. Mathematics, 9(13), 1537.
Dhingra, B., Yadav, M., Saini, M., & Mittal, R. (2024). A bibliometric visualization of behavioral biases in investment decision-making. In Qualitative Research in Financial Markets (Vol. 16, Issue 3, pp. 503–526). Emerald Publishing. https://doi.org/10.1108/QRFM-05-2022-0081
Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296.
Higgins-Desbiolles, F. (2018). Sustainable tourism: Sustaining tourism or something more? Tourism Management Perspectives, 25, 157–160. https://doi.org/10.1016/j.tmp.2017.11.017
Kumar, R., Bansal, A., Aliza, & Goel, M. (2023). Green Financing an Immediate need for Sustainable Development: A Systematic Literature Review using Bibliometric analysis. Ecology, Environment and Conservation, 29, 263–276. https://doi.org/10.53550/eec.2023.v29i03s.049
Li, C., & Umair, M. (2023). Does green finance development goals affects renewable energy in China. Renewable Energy, 203, 898–905.
Mikhaylyuk, І. (2022). Environmental aspects of the development of tourism. Розвиток Методів Управління Та Господарювання На Транспорті, 4(81), 124–131.
Muhammad, I., & Triansyah, F. A. (2023). Panduan Lengkap Analisis Bibliometrik dengan VOSviewer: Memahami Perkembangan dan Tren Penelitian di Era Digital. Penerbit Adab.
Nair, Dr. S. S., Mathew, Dr. D., & Nair, Dr. S. P. (2022). Tourism industry: The cash cow industry for fostering the economic development of India. International Journal of Applied Research, 8(4), 179–181. https://doi.org/10.22271/allresearch.2022.v8.i4c.9653
Pan, S.-Y., Gao, M., Kim, H., Shah, K. J., Pei, S.-L., & Chiang, P.-C. (2018). Advances and challenges in sustainable tourism toward a green economy. Science of the Total Environment, 635, 452–469.
Piddubnyi, V., Chahaida, A., & Davydiuk, Y. (2022). Analysis Of The Impact Of The Hospitality Industry On The Environment. Black Sea Economic Studies, 76. https://doi.org/10.32782/bses.76-26
Rasoulinezhad, E., & Taghizadeh-Hesary, F. (2022). Role of green finance in improving energy efficiency and renewable energy development. Energy Efficiency, 15(2), 14.
Saputro, D. R. S., Prasetyo, H., Wibowo, A., Khairina, F., Sidiq, K., & Wibowo, G. N. A. (2023). Bibliometric Analysis Of Neural Basis Expansion Analysis For Interpretable Time Series (N-Beats) For Research Trend Mapping. Barekeng: Jurnal Ilmu Matematika Dan Terapan, 17(2), 1103–1112.
Sinarta, I. N., Wahyuni, P. I., & Situmeang, Y. P. (2022). Perancangan Kebutuhan Infrastruktur Ekowisata Bersama Desa Nggorang di Persemaian Modern Labuan Bajo. Jurnal Abdi Daya, 2(2), 12–20.
Sudiadnyani, I. G. A. O., Sudana, I. M., Mahayana, I. D. M., Pratiwi, N. M. W. D., & Ardina, C. (2023). Does bank health level effect the profitability? Case study on core capital bank group 4 green banking pioneers. World Journal of Advanced Research and Reviews, 18(2), 1294–1298.
Susetyo, A., Suliyanto, S., Susilowati, D., & Pramuka, B. A. (2023). Kualitas Laporan Keuangan UMKM: A Bibliometric Review. Jurnal Ilmiah Akuntansi Dan Keuangan, 12(2), 161–169. https://doi.org/10.32639/jiak.v12i2.810
Sweileh, W. M. (2017). Global research trends of World Health Organization’s top eight emerging pathogens. Globalization and Health, 13, 1–19.
Urban, M. A., & Wójcik, D. (2019). Dirty banking: Probing the gap in sustainable finance. Sustainability, 11(6), 1745.
Valenzuela, L. M., Merigó, J. M., Johnston, W. J., Nicolas, C., & Jaramillo, J. F. (2017). Thirty years of the Journal of Business & Industrial Marketing: A bibliometric analysis. Journal of Business & Industrial Marketing, 32(1), 1–17.
Verma, D., Kalra, R., & Baheti, S. S. (2023). Examining the Domain of Green Finance Through Bibliometric Research Analysis of 22 Years (2000–2022): An Analytical Retrospective. Vision, 09722629231157470.
Wang, Y., & Zhi, Q. (2016). The role of green finance in environmental protection: Two aspects of market mechanism and policies. Energy Procedia, 104, 311–316.
Wibowo, M. S., & Belia, L. A. (2023). Partisipasi masyarakat dalam pengembangan pariwisata berkelanjutan. Jurnal Manajemen Perhotelan Dan Pariwisata, 6(1), 25–32.
Xu, S., & Wang, H. (2023). The role of green financing to enhance tourism growth by mitigating carbon emission in China. Environmental Science and Pollution Research, 30(21), 59470–59480. https://doi.org/10.1007/s11356-023-26089-z
Ahmi, A., & Saidin, S. Z. (2022). Current landscape of the enterprise resource planning (ERP) research: A bibliometric review. AIP Conference Proceedings, 2644(1).
Akhmedov, U. (2023). Significance of Investment Activity in Tourism and its Development.
Alsharif, A. H., Salleh, N., & Baharun, R. (2020). Bibliometric analysis. Journal of Theoretical and Applied Information Technology, 98(15), 2948–2962.
Ball, R., & Tunger, D. (2007). National and International Publications Reflected in Bibliometric Data bases= Krajowe i zgraniczne publikacje w bibliometrycznych bazach danych.
Cai, R., & Guo, J. (2021). Finance for the environment: A scientometrics analysis of green finance. Mathematics, 9(13), 1537.
Dhingra, B., Yadav, M., Saini, M., & Mittal, R. (2024). A bibliometric visualization of behavioral biases in investment decision-making. In Qualitative Research in Financial Markets (Vol. 16, Issue 3, pp. 503–526). Emerald Publishing. https://doi.org/10.1108/QRFM-05-2022-0081
Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296.
Higgins-Desbiolles, F. (2018). Sustainable tourism: Sustaining tourism or something more? Tourism Management Perspectives, 25, 157–160. https://doi.org/10.1016/j.tmp.2017.11.017
Kumar, R., Bansal, A., Aliza, & Goel, M. (2023). Green Financing an Immediate need for Sustainable Development: A Systematic Literature Review using Bibliometric analysis. Ecology, Environment and Conservation, 29, 263–276. https://doi.org/10.53550/eec.2023.v29i03s.049
Li, C., & Umair, M. (2023). Does green finance development goals affects renewable energy in China. Renewable Energy, 203, 898–905.
Mikhaylyuk, І. (2022). Environmental aspects of the development of tourism. Розвиток Методів Управління Та Господарювання На Транспорті, 4(81), 124–131.
Muhammad, I., & Triansyah, F. A. (2023). Panduan Lengkap Analisis Bibliometrik dengan VOSviewer: Memahami Perkembangan dan Tren Penelitian di Era Digital. Penerbit Adab.
Nair, Dr. S. S., Mathew, Dr. D., & Nair, Dr. S. P. (2022). Tourism industry: The cash cow industry for fostering the economic development of India. International Journal of Applied Research, 8(4), 179–181. https://doi.org/10.22271/allresearch.2022.v8.i4c.9653
Pan, S.-Y., Gao, M., Kim, H., Shah, K. J., Pei, S.-L., & Chiang, P.-C. (2018). Advances and challenges in sustainable tourism toward a green economy. Science of the Total Environment, 635, 452–469.
Piddubnyi, V., Chahaida, A., & Davydiuk, Y. (2022). Analysis Of The Impact Of The Hospitality Industry On The Environment. Black Sea Economic Studies, 76. https://doi.org/10.32782/bses.76-26
Rasoulinezhad, E., & Taghizadeh-Hesary, F. (2022). Role of green finance in improving energy efficiency and renewable energy development. Energy Efficiency, 15(2), 14.
Saputro, D. R. S., Prasetyo, H., Wibowo, A., Khairina, F., Sidiq, K., & Wibowo, G. N. A. (2023). Bibliometric Analysis Of Neural Basis Expansion Analysis For Interpretable Time Series (N-Beats) For Research Trend Mapping. Barekeng: Jurnal Ilmu Matematika Dan Terapan, 17(2), 1103–1112.
Sinarta, I. N., Wahyuni, P. I., & Situmeang, Y. P. (2022). Perancangan Kebutuhan Infrastruktur Ekowisata Bersama Desa Nggorang di Persemaian Modern Labuan Bajo. Jurnal Abdi Daya, 2(2), 12–20.
Sudiadnyani, I. G. A. O., Sudana, I. M., Mahayana, I. D. M., Pratiwi, N. M. W. D., & Ardina, C. (2023). Does bank health level effect the profitability? Case study on core capital bank group 4 green banking pioneers. World Journal of Advanced Research and Reviews, 18(2), 1294–1298.
Susetyo, A., Suliyanto, S., Susilowati, D., & Pramuka, B. A. (2023). Kualitas Laporan Keuangan UMKM: A Bibliometric Review. Jurnal Ilmiah Akuntansi Dan Keuangan, 12(2), 161–169. https://doi.org/10.32639/jiak.v12i2.810
Sweileh, W. M. (2017). Global research trends of World Health Organization’s top eight emerging pathogens. Globalization and Health, 13, 1–19.
Urban, M. A., & Wójcik, D. (2019). Dirty banking: Probing the gap in sustainable finance. Sustainability, 11(6), 1745.
Valenzuela, L. M., Merigó, J. M., Johnston, W. J., Nicolas, C., & Jaramillo, J. F. (2017). Thirty years of the Journal of Business & Industrial Marketing: A bibliometric analysis. Journal of Business & Industrial Marketing, 32(1), 1–17.
Verma, D., Kalra, R., & Baheti, S. S. (2023). Examining the Domain of Green Finance Through Bibliometric Research Analysis of 22 Years (2000–2022): An Analytical Retrospective. Vision, 09722629231157470.
Wang, Y., & Zhi, Q. (2016). The role of green finance in environmental protection: Two aspects of market mechanism and policies. Energy Procedia, 104, 311–316.
Wibowo, M. S., & Belia, L. A. (2023). Partisipasi masyarakat dalam pengembangan pariwisata berkelanjutan. Jurnal Manajemen Perhotelan Dan Pariwisata, 6(1), 25–32.
Xu, S., & Wang, H. (2023). The role of green financing to enhance tourism growth by mitigating carbon emission in China. Environmental Science and Pollution Research, 30(21), 59470–59480. https://doi.org/10.1007/s11356-023-26089-z
Downloads
Published
2024-08-15
How to Cite
Kurniasari, E., Nur Afifah Hindriyani Astuti, & Axel Giovanni. (2024). Green Finance as an Innovative Solution for Transforming the Tourism Industry: A Bibliometric Study. International Student Conference on Business, Education, Economics, Accounting, and Management (ISC-BEAM), 2(1). Retrieved from https://journal.unj.ac.id/unj/index.php/isc-beam/article/view/46666
