{"title":"Impact Investing in the Hospitality Industry: Social Responsibility and Economic Benefits","authors":"Liliia Honchar, Irina Verezomska, Olena Zavadynska, Sergii Neilenko, Nadiia Sapelnikova, Inna Krupa","doi":"10.37394/232015.2023.19.95","DOIUrl":null,"url":null,"abstract":"This research investigates the intricacies of impact investing in the hospitality industry and its potential implications for fostering corporate responsibility. The study highlights the pivotal role of impact investing policies in promoting regional economic development and environmental betterment. In the face of pressing global environmental challenges, such as climate change and energy resource scarcity, the study underscores the need for effective measures that positively shape state policy formation. The primary goal of such policy initiatives is to bolster human capital development and ensure the long-term realization of strategic objectives. This holds particular significance for nations with substantial potential in the tourism industry, where the hospitality sector acts as a linchpin for tourism recovery and presents compelling opportunities for impactful investments. As energy shortages and dependence took center stage in 2022, the research calls for the exploration of alternative renewable energy sources and the development of new commodity markets to invigorate energy sector growth. Against the backdrop of the hospitality industry’s post-pandemic resurgence, the integration of impact investing emerges as vital for both developing and developed nations. Given the prevailing global environmental crisis, the study underscores the imperative of effective international cooperation mechanisms to tackle environmental challenges, positioning impact investing as a catalyst for achieving sustainable economic development goals, advancing eco-friendly practices, and addressing global environmental imperatives.","PeriodicalId":53713,"journal":{"name":"WSEAS Transactions on Environment and Development","volume":"52 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2023-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"WSEAS Transactions on Environment and Development","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.37394/232015.2023.19.95","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 0
Abstract
This research investigates the intricacies of impact investing in the hospitality industry and its potential implications for fostering corporate responsibility. The study highlights the pivotal role of impact investing policies in promoting regional economic development and environmental betterment. In the face of pressing global environmental challenges, such as climate change and energy resource scarcity, the study underscores the need for effective measures that positively shape state policy formation. The primary goal of such policy initiatives is to bolster human capital development and ensure the long-term realization of strategic objectives. This holds particular significance for nations with substantial potential in the tourism industry, where the hospitality sector acts as a linchpin for tourism recovery and presents compelling opportunities for impactful investments. As energy shortages and dependence took center stage in 2022, the research calls for the exploration of alternative renewable energy sources and the development of new commodity markets to invigorate energy sector growth. Against the backdrop of the hospitality industry’s post-pandemic resurgence, the integration of impact investing emerges as vital for both developing and developed nations. Given the prevailing global environmental crisis, the study underscores the imperative of effective international cooperation mechanisms to tackle environmental challenges, positioning impact investing as a catalyst for achieving sustainable economic development goals, advancing eco-friendly practices, and addressing global environmental imperatives.
期刊介绍:
WSEAS Transactions on Environment and Development publishes original research papers relating to the studying of environmental sciences. We aim to bring important work to a wide international audience and therefore only publish papers of exceptional scientific value that advance our understanding of these particular areas. The research presented must transcend the limits of case studies, while both experimental and theoretical studies are accepted. It is a multi-disciplinary journal and therefore its content mirrors the diverse interests and approaches of scholars involved with sustainable development, climate change, natural hazards, renewable energy systems and related areas. We also welcome scholarly contributions from officials with government agencies, international agencies, and non-governmental organizations.