Tourism, Sustainability, and Financial Risk: The Role of Capital Structure in Resilient Business Models
Keywords:
Smart Tourism, Business Resiliency, Sustainability, Capital Structure, SEMAbstract
In the fast-moving developmental world, the role of information and communication technology become very essential in almost all industries. Smart technologies reach into almost all aspects of life nowadays, although they are often unnoticed by users and taken for granted. Recently, tourism destinations have also started to implement smart technologies with the intention to enhance the experience of incoming tourists in response to the new EU goals to limit the ongoing climate change (Endesa, 2008). The technological advancement and immense use of ICT in tourism directs smart tourism in that direction only, even it has some other dimensions. Smart tourism also directs towards the innovative use of technology in resource optimisation, sustainability, good governance, and quality of life in the tourism industry. This paper defines smart cities and smart tourism and their importance and relevance todays context. Smart tourism is a rapidly growing concept in developed countries and in developed smart cities. The study focuses on the smart tourism practices in the smart city and, importantly, the prospects and challenges that come in the way of smart tourism are also discussed. This paper extends the previous research on smart tourism and draws attention to further study on smart tourism development and management.
References
[1]
Ahmed, A. ( 2026). Tourism Today: Trends, Challenges, and Opportunities. Journal of Educational Studies. https://doi.org/10.58218/jes.v3i1.1263
[2]
Asian Development Bank. (2021). Supporting Post-COVID-19 Economic Recovery in Southeast Asia. ADB Briefs. https://doi.org/10.22617/BRF210101-2
[3]
Baidal, J. I. (2021). Sustainability and Resilience of Coastal Tourist Destinations: Notes from the Smart Destinations Approach. Link
[4]
Choudhary, I., & Tyagi, P. (2024). Travel and tourism in India: Growth and challenges. International Journal of Trend in Scientific Research and Development, 8(5), 1186–1192. PDF
[5]
Eppang, B. M., Widjaja, H. R., Arifin, M., Azinuddin, M., Salim, M. A. M., & Islahuddin, I. (2024). Model of resilience strategies of small and medium-sized tourism enterprises post pandemic crises. Journal of Applied Sciences in Travel and Hospitality. https://doi.org/10.31940/jasth.v7i2.105-126
[6]
Ervina, E., & Agoes, A. (2022). The Critical Role of Social Capital in Hotel Business Resilience. Jurnal Manajemen dan Agribisnis. https://doi.org/10.17358/jma.19.2.288
[7]
Faeni, R. P., Riyadh, H. A., & Yuliansyah, Y. (2022). The COVID-19 pandemic impact on the global tourism industry SMEs: A human capital development perspective. Review of International Business and Strategy. https://doi.org/10.1108/RIBS-08-2021-0116
[8]
Gautam, R., Sharma, P., & Sajan, S. (2024). Enhancing tourist satisfaction through smart tourism technologies: Insights from diverse regions of India. Global Journal of Enterprise Information System, 16(1), 7–17. Link
[9]
Jalil, M. F., Ali, A., Ahmed, Z., & Kamarulzaman, R. (2021). The Mediating Effect of Coping Strategies on Small Tourism Organization Resilience. Frontiers in Psychology, 12, 766528. https://doi.org/10.3389/fpsyg.2021.766528
[10]
Lin, L., Tsai, C.-C., & Lee, J.-Y. (2022). A Study on the Trends of the Global Cruise Tourism Industry and Financial Impacts of COVID-19. Sustainability, 14(11), 6890. https://doi.org/10.3390/su14116890 [11]
Novita, M., Senowarsito, R., Hermana, R., & Sutomo, S. (2024). Sustainable Tourism Business Recovery Strategies Post-pandemic: A Case Study of Doplang Village Tourist Destination. KnE Social Sciences. https://doi.org/10.18502/kss.v9i6.15271
[12]
Paliwal, M., Chatradhi, N., Singh, A. K., & Dikkatwar, R. (2022). Smart tourism: Antecedents to Indian traveller's decision. European Journal of Innovation Management, 26(7), 2063–2083. https://doi.org/10.1108/EJIM-06-2022-0293
[13]
Rwigema, P. C. (2021). Critical Analysis of Tourism Industry and Sustainable Development During COVID-19 Pandemic: A Case of Rwanda. Strategic Journal of Business & Change Management, 8(4), 594–625. https://doi.org/10.61426/sjbcm.v8i4.2126
[14]
Sobaih, A., Elshaer, I., Hasanein, A. M., & Abdelaziz, A. S. (2020). Responses to COVID-19: Role of Resilience and Performance in Tourism Enterprises. International Journal of Hospitality Management, 94, 102824. https://doi.org/10.1016/j.ijhm.2020.102824
[15]
Strouhal, J., Dey, S., Kloudová, J., Hoang, S., & Tučková, Z. (2024). Unraveling the financial impact of COVID-19 on the tourism industry. Journal of Tourism and Services, 15(28), 179–195. https://doi.org/10.29036/jots.v15i28.614
[16]
Tang, W., Wang, Q., Cheng, H., Liu, T., & Wan, J. (2023). Livelihood vulnerability assessment of land-lost farmers in tourism-dependent regions: A case study from Sanqingshan Scenic Area, China. Environment, Development and Sustainability. https://doi.org/10.1007/s10668-023-03590-6
[17]
Woyo, E., & Ukpabi, D. (2022). Building Resilient Smart Cities for Sustainable Urban Tourism in Africa Post-COVID-19. In Information and Communication Technologies in Tourism. https://doi.org/10.1007/978-3-030-94751-4_23
[18]
Wudhikarn, R., Pattanasak, P., Cherapanukorn, V., & Paphawasit, B. (2024). Evaluating the intellectual capital of intensively tourism-dependent countries: Evidence from Thailand. Sustainability, 16(4), 1510. https://doi.org/10.3390/su16041510
[19]
Xia, Y. (2023). How Has Online Digital Technology Influenced Tourist Behavior during COVID-19? Sustainability, 15(14), 10889. https://doi.org/10.3390/su151410889
