The Factors Influence the Intention to Invest in Green Tourism in Vietnam: Evidence from Business Survey

Abstract

Purpose: This research aims to examine the factors that impact the intention of businesses to invest in green tourism in Vietnam. The findings of this research can potentially provide insights and guidance to businesses and policymakers in making informed decisions regarding sustainable tourism practices and investments in the sector. Theoretical framework: The theoretical framework for this research topic could draw upon several relevant concepts and theories from the fields of sustainable tourism, community development, and environmental psychology. Design/methodology/approach: The methodology and approach for this research involve conducting a quantitative survey among businesses operating in the tourism industry in Vietnam during the year 2022. This includes designing and distributing the survey, collecting and analyzing the responses, and conducting a review of relevant literature. By using this mixed-methods approach, the research can provide a comprehensive understanding of the factors that influence businesses' intention to invest in green tourism in Vietnam. Findings: The study examines the factors that influence investment intentions in green The findings reveal that government policies and regulations, funding and financial resources, local community involvement, and tourist demand have a significant and positive influence on investment intentions in sustainable tourism. However, public awareness and education, as well as infrastructure and technology, do not demonstrate a statistically significant impact on investment intentions. Research, Practical & Social implications: The results indicate that investment intentions in green tourism are affected by government policies and regulations, as well as the accessibility of funding and financial resources. Additionally, the engagement of local communities and catering to the needs of environmentally and socially conscious tourists are crucial factors. However, the study also reveals that public awareness and education, as well as infrastructure and technology, do not have a statistically significant effect on investment intentions. The findings underscore the necessity for additional research to investigate the influence of public awareness and education on investment intentions and to tackle the challenge of low public awareness. Originality/value: Being the first research on this topic conducted in Vietnam, this study holds a unique position in advancing the understanding of sustainable tourism practices in the country's tourism industry. Additionally, the findings of this research can aid in developing policies and programs that promote sustainable tourism practices, which can have benefits for both the local communities and the tourism industry.