Impact of Green Credit and Technological Innovations on Renewable Energy Consumption in Green Efficiency of Vietnam’s Ecotourism Industry

The prime objective of the current study is to explore the impact of green credit and technological innovations on the consumption of green energy to derive green efficiency in the ecotourism sector. The data is collected from the ecotourism sector of Vietnam over the period from 2013 to 2022. The data is analyzed using ARDL econometric model. The empirical outcomes reveal that issuance of green credit (bonds) and technology innovations have a significant and positive impact on the green efficiency of Ecotourism (GEET) in long-run, while in the short term technological innovation sheds consistent effects but the impact of green credit is insignificant on green efficiency of ecotourism in Vietnam. Both the exchange rate and consumer price index adversely influence the ecotourism industry in Vietnam in the long- as well as short-run. The study infers that the utilization of conventional energies results in climate deterioration; therefore, Government should discourage traditional construction methods of hotel projects to a sustainable environment construction approach which ultimately enhances the green energy deployment and efficiency in the ecotourism sector.