Exploring the Influencing Factors of Wetland Parks on the Sustainable Development of Urban Economy: A Case in Southern China

Currently, studies in green infrastructure have developed different wetland park value evaluation systems, and various criteria to measure urban economic development have been proposed. However, these criteria are not widely adopted, and there is a lack of investigation on the relationship between wetland parks and urban economic development. The existing literature indicates that the specific impact factors of wetland parks on urban economic development have not been further explored. Therefore, this study builds on previous theoretical research to develop a conceptual model with 12 hypotheses, followed by a questionnaire survey method to obtain data. The questions have been developed for each of five variables in the conceptual model to validate the research hypotheses that have been contextually modified according to the uniqueness of different wetland parks based on previous classic scales, namely, ecological value, recreational value, resource attraction, a diversified industrial structure, and economic expectation. This study aims to investigate how wetland parks promote urban economic health through ecological value and recreational value, particularly their indirect role in fostering diversified industrial structure, resource attraction, and economic expectations. Structural equation modeling with the Statistical Package for the Social Sciences (SPSS) 26.0 and the Analysis of Moment Structures (AMOS) 24.0 has been used for validating the hypotheses. The findings in this paper highlight that recreational value has the most significant impact on a diversified industrial structure that, in turn, has a highly significant positive impact on both resource attraction and economic expectations. In addition, the influence of ecological value on urban economic outcomes largely depends on recreational value as a mediator. Two significant impact pathways have been further identified: (1) from ecological value, recreational value, and a diversified industrial structure to resource attraction; and (2) from ecological value, recreational value, and a diversified industrial structure to economic expectations. Further, the managers and developers of wetland parks need to fully preserve the ecological value of the parks and optimize their recreational value before embarking on new development projects. The theoretical contribution of this paper lies in uncovering the direct and indirect effects of ecological value and recreational value on diversified industrial structure and resource attraction, emphasizing the crucial role of recreational value in driving economic diversification. The practical implications are reflected in providing concrete pathways and strategies for urban planners and policymakers to optimize the ecological and recreational value of wetland parks, thereby promoting urban economic development.