The impact of eco-innovation and investments on sustainable economic development and tourism in the European Union
DOI: https://doi.org/10.3846/jbem.2026.28106Abstract
This paper addresses the sustainable nature of economic growth and tourism development, influenced by eco-innovation and total investments in EU member states. We analyse how eco-innovation group membership (leaders, average performers, and catching-up countries) shapes the contribution of investments and the Eco-Innovation Index (EII) to the dynamics of GDP and gross value added in tourism. The conclusions of the statistical analysis of panel data from the 27 member states of the European Union confirm that, for the 2014– 2024 timeframe, all variables differ significantly depending on eco-innovation group membership. Our econometric approach uses fixed-effects (FE) models for three groups of countries defined by their eco-innovation levels in 2024, testing the established hypotheses. The results show that eco-innovation and investments positively and significantly influence both GDP and tourism gross value added. Group membership matters: the lower the eco-innovation level, the greater the influence of both EII and investments on economic growth and tourism development. Eco-innovation proved robust to economic shocks, supporting sustainability policies for both tourism and broader economic growth.
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eco-innovation, sustainability, investments, GDP, tourism, FE models, panel data modelsHow to Cite
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Copyright (c) 2026 The Author(s). Published by Vilnius Gediminas Technical University.
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Copyright (c) 2026 The Author(s). Published by Vilnius Gediminas Technical University.
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