International tourism development in the digital economy era: the role of ICT services and digital finance

Abstract

Purpose This paper aims to investigate how information and communication technology (ICT) services and digital finance affect the development of international tourism. Design/methodology/approach The two-way fixed effect panel regression model, spatial econometric model, panel threshold regression model and panel quantile regression model are used. Data on tourism, economic and social development in 198 Chinese cities from 2011 to 2020 are analyzed. Findings This study finds that digital economy including ICT services and digital finance has significantly promoted the development of international tourism industry, while there is a negative spatial spillover effect. The promotion effect of international tourism increases significantly after digital innovation reaches the threshold value. International tourism is benefiting more from digital economy with the development of international tourism industry. Research limitations/implications The development quality of international tourism industry has not been analyzed due to data limitations, and the mechanism has not been tested. Originality/value This study creatively reveals the development of international tourism industry in the digital economy era from ICT services and digital finance perspectives. This study also shows the spatial, nonlinear and asymmetric relationship between digital economy and international tourism.