Analysis of the Impact of Business Greening, which Based on Circular Economy Principles, on Sustainable Tourism Development in European Countries

Abstract

Purpose: To test the hypothesis of the relationship between the degree of business greening on the basis of a circular economy and indicators that determine the level of international tourism attractiveness of European countries in the context of sustainable tourism. Findings: The author puts forward a hypothesis about the existence of a stable relationship between the business greening degree, which based on the principles of a circular economy, and the level of tourist attractiveness of the country. Based on the analysis of the basic provisions of the circular economy concept and the principles of sustainable development, the author provides a theoretical substantiation of this relationship. The author testes the hypothesis by clustering European countries according to the Environmental Performance Index and, based on correlation analysis, determines a close relationship between economic and environmental indicators within each of the clusters. Calculations show that in some regions of Europe there is a positive impact of the spread of the circular economy on the intensification of migration flows to the country. Practical Implications: The results of the research can be used in the practice of international companies when justifying the feasibility of investments in circular projects and programs for the transition to environmental development of territories, as well as for public administration in the development of a positive tourist image of the country. Originality/Value: For the first time, the author proposes a methodological approach to assessing the tourist attractiveness of a country in the context of business greening based on a circular economy. Future Research: Image-making of territories based on a circular economy, systematization of world experience in tourist consumption greening, the formation of tourist clusters in countries with a high level of development of the circular economy.   Paper type: Empirical