TOURISM AND FINANCIAL TRANSPARENCY: THE ROLE OF SUSTAINABILITY REPORTING IN SHAPING THE FUTURE OF TOURISM

Abstract

Financial transparency has become an essential pillar in the tourism industry in recent years, dictating consumer preferences and long-term investments. As tourism faces increased sustainability and ethical challenges, sustainability reporting is emerging as a vital tool for shaping the future of this sector. This research delves into a novel area, emphasising the importance of increasing financial transparency through sustainability reporting in tourism. It underscores how these practices enhance corporate image and contribute to optimising strategic decisions and improving stakeholder relations. The study sets out to comprehensively identify and analyse the impact of sustainability reporting on financial transparency in tourism companies. Its objectives include assessing how reporting influences investor perceptions and consumer behaviour and impacts regulatory compliance and environmental and social performance. The research results highlight that the effective implementation of sustainability reporting leads to increased financial transparency, thus facilitating access to capital and improving market competitiveness. The results are also expected to highlight the importance of integrating sustainability indicators into the development strategies of companies in the tourism industry, promoting responsible business practices that can contribute to more sustainable tourism.