Measuring the Economic Impact of a Voluntary Sustainable Tourism Certification

Abstract

<jats:p>This article contributes to the debate about whether the investment in tourism sustainability is economically profitable for firms. Specifically, using cross-sectional analysis, we explore the existence of a causal link between the possession of a voluntary sustainable certification, Eco-Management and Audit Scheme (EMAS), and the increase in the prices of hotel accommodation. For this, the hedonic price method is used. Prior to the hedonic estimation, the propensity score-matching methodology is applied in order to control for self-selection bias. The analysis is carried out for coastal hotels located in the southern area of Tenerife (Canary Islands, Spain) which merits attention as a typical mature sun and beach tourist destination. The study does not reveal any significant effects of sustainable certification on the prices of accommodations, which would appear to explain the low participation of establishments in the program. We conclude by providing some useful insights on measures aimed at improving related policies.</jats:p>

Factors Influencing the Accommodation Prices of Romanian Rural Tourism

“…This result should be viewed in contrast with previous literature reports, which refer to sustainable tourism certification as not having a statistically significant effect on prices. This could be due to changes in managerial decisions between the studied intervals (2019 and 2022 in the present study) or between geographical areas studied (Tenerife and Central Romania) [66].…”

Research in tourism sustainability: A comprehensive bibliometric analysis from 1990 to 2022

“…Sustainability indicators for managing community tourism. Tourism Management , 27 (6):1274-1289 [ 51 ] …”

Tang poetry and tourism: Cultural effects after 1000 years

“…Nevertheless, it is difficult to ensure that non-TPR cities (control group) and TPR cities (treated group) have similar characteristics. Therefore, matching methodologies are appropriate (Bilbao-Terol and Bilbao-Terol, 2020).…”