The Impact of Economic Corridor and Tourism on Local Community's Quality of Life under One Belt One Road Context

Abstract

Economic corridors unlock new economic opportunities and tourism development in the region to achieve sustainable development goals. Green economic growth is conducive to environmental sustainability. Economic mega-projects of CPEC promote tourism that leads to communities’ well-being and better quality of life. Modern infrastructure development contributes significantly to economic growth and tourism activities. This study’s objectives emphasize exploring tourism and sustainable development pursuits under OBOR economic projects that open doors to improving residents' quality of life. The growing world is an eyewitness to a continuous rise in emissions and its severe consequences for humankind. It is necessary to show off the leading factors that result in tourism and economic activities causing environmental pollution rather than blame policymakers. Undoubtedly, many studies previously focused on demonstrating the influence of socio-economic factors that lead to better environmental quality. However, the empirical literature on tourism, social well-being, foreign direct investment, and the Environment in Belt and Road developed economies needed improvement. This research applied a series of advanced estimators that help demonstrate the study’s probable results. This study explores the role of Social well-being (HDI), tourism development, FDI, renewable energy, information & communication technology (ICT), and urbanization on CO2 emissions in Belt and Road (BRI) developed economies.Estimated results exhibited the significant contribution of ICT and renewable energy to sustainability. Besides, FDI contributes to emissions reduction after its threshold level. Conversely, urbanization and tourism activities contribute to environmental pollution. The study outcomes stated inverted/EKC U-shaped hypotheses related to specified economies. Finally, the analysis based on the D-H panel causality test constructs exciting results.The present study concludes that economic corridor plays a vital role in tourism development, the community’s well-being, and SDGs goals (sustainable development) impact on environmental safety. The findings suggest essential and applicable policies to attain the desired sustainability level. Findings contribute to the literature on tourism, well-being, and sustainability. Further studies can use insights using this methodology.

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