Work

The Contribution of International Banks to Sustainable Tourism Development: Banking Practices for Global Sustainability

Year: 2024

Type: article

Abstract: The article examines the contribution of international banks to sustainable tourism development, emphasizing financing projects that reduce environmental impacts and boost economic growth. Financial mechanisms like green bonds, grants, and public-private partnerships, essential for achieving sustainable development goals, are analyzed. Particular attention is paid to the European Investment Bank and the World Bank, focusing on their role in funding infrastructure projects to promote eco-friendly tourism and support local communities through inclusive programs. The study's practical value lies in its relevance for implementing international experience in Ukraine. It provides recommendations for creating an institutional framework to support eco-tourism through international investments. The findings show that involving financial institutions like the World Bank and the European Investment Bank in sustainable tourism development can foster economic growth. These projects generate jobs, aid the recovery of regions with high tourism potential, and balance environmental, social, and economic goals.

Source: Економіка та суспільство

DOI: 10.32782/2524-0072/2024-70-79

Authors: Світлана Осипова, Кривоконь Марина

Institution: National Technical University "Kharkiv Polytechnic Institute"

Language: English

Topic: Sustainable Finance and Green Bonds

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Partnerships for the goals, Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $40