SUSTAINABLE BUSINESS PRACTICES IN THE TOURISM AND HOSPITALITY INDUSTRY: A REVIEW
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Abstract
Sustainable business practices are an important aspect of the tourism and hospitality industries, eventually benefiting consumers and society. This study examines the impact of tourism and hospitality business along with sustainability on sustainable business practices. It evaluates the effectiveness of sustainable business practices in fostering trust and loyalty among consumers. Sustainable business practices refers to the strategies and actions that organizations undertake to minimize their negative impact on the environment, society and the economy while maximizing positive contributions. Sustainable business practices are not only good for the planet and society, but they also often result in cost savings, improved brand reputation, and increased customer loyalty. For the study, we have collected data from the Scopus database, which is well-known for its standards for its high-quality standards, extensive information-gathering coverage, and ease of data download. We have done a manual, insightful review of 92 papers. Based on the review, we have identified themes such as corporate social responsibility, fintech, consumer behaviour, business models, market orientation, tourism and hospitality, and sustainability to investigate their interconnectedness and how they lead to sustainable business practices. The discussion and future research agendas also indicate that responsible marketing has a significant and positive association with sustainable business practices.
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