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Impact of digital inclusive finance on household tourism consumption: evidence from China

Xiaojun Wu (Donghua University, Shanghai, China)
Huijia Chang (Donghua University, Shanghai, China)

European Journal of Innovation Management

ISSN: 1460-1060

Article publication date: 27 February 2023




This paper aims to explore the role of digital inclusive finance (DIF) in influencing household tourism consumption, whether this influence differs between households with different characteristics and determining the intermediate mechanisms that influence the relationship.


The conceptual framework of this study was designed on the basis of the research on DIF in residential consumption practices. The China Household Finance Survey (CHFS) and the Peking University DIF Index were used in the study, which included four years of unbalanced panel data from 25 provinces in China. A fixed effects model was used to validate the conceptual framework and hypothesis testing.


Both hypothesis paths proposed in this study were supported. Results of this study show that DIF has a significant contribution to household tourism consumption and shows a positive impact in terms of both breadth of coverage and depth of use, and that Internet usage is an important mediating mechanism for DIF to promote household tourism consumption. Thus, the use of DIF as a tool can have a positive impact on tourism consumption.

Research limitations/implications

Results of this study will help researchers and tourism businesses understand the relationship and mechanisms at play between DIF and household tourism consumption and leverage financial tools to drive tourism revival. However, the lack of third-country data for comparative analysis may render the conclusions inapplicable to every economy.


This study is the first to examine the relationship between DIF and household tourism consumption, using an “individual + time + region” fixed effects model to conduct specific empirical tests.



Funding: This study was funded by the National Natural Science Foundation of China (No: 71774029).


Wu, X. and Chang, H. (2023), "Impact of digital inclusive finance on household tourism consumption: evidence from China", European Journal of Innovation Management, Vol. ahead-of-print No. ahead-of-print.



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