Digital financial inclusion and domestic tourism demand: Through the lens of spatial spillover

Domestic tourism demand has dominated the global tourism market and has been more resilient during the COVID-19 pandemic; yet, it is under-studied compared to international tourism demand. Digital financial inclusion (DFI) enables the provision of formal financial products and services to small and...

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Bibliographic Details
Published in:Tourism economics : the business and finance of tourism and recreation 2024-11, Vol.30 (7), p.1680-1703
Main Authors: Li, Yanzhao, Guo, Ju-e, Zhu, Wenjun
Format: Article
Language:English
Subjects:
Cost analysis
COVID-19
Demand analysis
Financial inclusion
Impact analysis
Internalization
Pandemics
Small & medium sized enterprises-SME
Spatial analysis
Spatial data
Spillover effect
Sustainable development
Sustainable tourism
Tourism
Tourism development
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Summary:Domestic tourism demand has dominated the global tourism market and has been more resilient during the COVID-19 pandemic; yet, it is under-studied compared to international tourism demand. Digital financial inclusion (DFI) enables the provision of formal financial products and services to small and medium-sized tourism enterprises and tourists through cost-effective digital means, potentially boosting domestic tourism demand. Integrating micro- and macro-level data from 335 prefecture-level regions in China, we investigate the impact of DFI on domestic tourism demand using spatial panel models. Our analysis reveals significant and positive effects, both direct and spillover, of DFI on domestic tourism demand within a region and across regions. Notably, among the three dimensions of DFI, the usage depth exhibits the most substantial spillover effects. Furthermore, our findings also highlight the crucial role of DFI in internalizing domestic tourism revenues. Our study provides practical implications for sustainable domestic tourism development in the digital era.
ISSN:1354-8166
2044-0375
DOI:10.1177/13548166231224578