data_Sustainable_Journeys

This research explores the complex relationships between tourism, economic factors, environmental sustainability, and transportation infrastructure within the European Union (EU) as the tourist scene changes globally. Our research uses a comprehensive model to investigate the factors that influence the number of tourists arriving in the EU, focusing on the years 1990 to 2022. The model considers transportation infrastructure, circular economy indices, and economic variables major determinants of tourism flows. Economic variables encompass exchange rates, the Consumer Price Index (CPI), and per capita income, while circular economy indicators include carbon footprint and renewable energy usage. Additionally, the model considers transportation infrastructure by assessing the quality and availability of transportation modes. We use two-way fixed effect to account for any unobserved heterogeneity. Fixed effects give control over nation-specific factors that might affect tourism, as it is a reliable method to deal with potential biases in the estimated parameters. Our study aims to provide insightful information about the sustainable growth of tourism in the European Union, providing policymakers, scholars, and industry stakeholders with a comprehensive understanding of the variables influencing visitor arrivals. In the framework of the circular economy, the study hopes to inform on policy choices and advance a more environmentally conscious travel industry in the EU by examining the points where economic, environmental, and transportation aspects converge.