Sladjana Stojanovic
- PhD student at University of Belgrade, Faculty of Economics and Business, Kamenička 6, 11000 Belgrade, Serbia
Mihalj Bakator
- University of Novi Sad, Technical faculty “Mihajlo Pupin” in Zrenjanin, Đure Đakovića bb, 23000 Zrenjanin, Serbia
Abstract:
This paper explores the economic impact of sustainability strategies on the growth of the tourism sector, highlighting the relationship between policy, operational innovation, and market development. Sustainability in tourism is shown to drive economic benefits through improved efficiency, resilience, and consumer appeal. The paper identifies key challenges, including high initial investment costs and resistance to change, and underlines the importance of regulatory frameworks, financial incentives, and public-private partnerships. A theoretical model highlights governance, operational practices, and consumer engagement as main elements, each supported by interconnected sub-elements. Strategies for governments, enterprises, and individuals are suggested, emphasizing the adoption of green technologies, capacity building, and sustainable consumer behaviors. The findings demonstrate that while sustainability implementation poses challenges, its long-term economic, environmental, and social advantages show the need for collaboration, innovation, and adaptability to ensure the tourism sector contributes to a sustainable future.
9th International Thematic Monograph: Modern Management Tools and Economy of Tourism Sector in Present Era - 9th International Thematic Monograph: Modern Management Tools and Economy of Tourism Sector in Present Era
Published by: Association of Economists and Managers of the Balkans; Faculty of Tourism and Hospitality, Ohrid, North Macedonia
ISBN: 9788680194943 , ISSN: 26835673 , DOI: 10.31410/tmt.2024-2025
Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.