African Behavioral Finance (Business/Economics/Psychology crossover) | 11 November 2007
Sustainable Business Models in Tanzanian Tourism: A Mixed Methods Inquiry
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Abstract
Sustainable business practices are increasingly important in the tourism sector to mitigate environmental impacts and promote economic stability. A combination of qualitative interviews with local businesses and quantitative analysis of market data from the Tanzanian Tourism Board. Sustainable practices were predominantly implemented by eco-lodges, with over 60% adopting water conservation measures and waste management initiatives. The mixed methods study reveals a promising trend towards sustainability in Tanzania's tourism sector but highlights challenges related to financial viability and stakeholder engagement. Policy makers should incentivize sustainable practices through subsidies or tax breaks, while businesses can leverage partnerships for shared resource management solutions.