SUSTAINABLE TOURISM FINANCING MODELS: BEHAVIOURAL INSIGHTS FROM VIETNAMESE TOURISM COMPANIES

This study explores the factors influencing the adoption of sustainable financial models in the tourism industry, focusing on Vietnamese tourism companies. It examines the interplay between financial literacy, leadership commitment, environmental awareness, risk perception, and perceived feasibility. Using data from 368 managers, including CEOs and CFOs of 124 travel companies, the study employs a quantitative approach and analyzes relationships using the PLS-SEM model with SPSS 22 and AMOS 20. The findings reveal that financial literacy and leadership commitment significantly drive perceived feasibility, which strongly impacts the adoption of sustainable financial models. Notably, environmental awareness has a positive but weaker-than-expected influence, while risk perception is not a significant barrier. These results highlight the crucial role of perceived feasibility in bridging behavioural factors and the implementation of sustainable finance models. The study provides actionable recommendations for travel companies, emphasizing the need to improve financial literacy, foster leadership commitment, and demonstrate the practicality of sustainable finance. These strategies are essential for accelerating the adoption of sustainable financial models, ultimately promoting sustainable growth in the tourism industry.