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RETRACTED ARTICLE: How marine tourism promote financial development in sustainable economy: new evidences from South Asia and implications to future tourism students

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This article was retracted on 14 March 2024

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Abstract

The ocean economy and marine tourism policies are global economic concerns being looked at from a deeply holistic viewpoint. For South Asian countries, the ocean economy and marine tourism have successive socio-economic importance. The quantification of the ocean economy and marine tourism also poses some major challenges, and these challenges pose limitations for policymaking by the government and other relevant agencies. The study has used the newly developed hidden panel cointegration test, and the nonlinear panel autoregressive distributed lag (NPARDL) model for a relationship between economic growth and tourism is assessed. This study offers consistent and reliable results of cointegration by incorporating the findings of four approaches to cointegration. The empirical results illustrate the asymmetric relationship between ocean and marine tourism and economic growth. The findings showed that 1% increase in long-term tourism economic growth is adjusted by 2.95% annually. This research paper aims to provide a policy related to South Asia’s economic activities and ocean and marine tourism economic significance. Protecting local marine protected areas (MPAs) will improve the economic benefits of the ocean and the marine economy. The policy suggests that there should be a law ensuring that marine tourism is of high quality and environment friendly. This paper provides a guideline for further research with a strong emphasis on ocean- and marine-related economic development and tourism.

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The data that support the findings of this study are openly available on request.

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Authors and Affiliations

  1. North Minzu University, Yinchuan, China

    Liu Li

  2. Chengde Medical University, Chengde, China

    Baijun Wu

  3. School of Tourism, Hospitality and Event Management, Universiti Utara Malaysia, Kedah, Sintok, Malaysia

    Ataul Karim Patwary

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  1. Liu Li
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  3. Ataul Karim Patwary
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Contributions

Conceptualization and methodology: Liu Li

Review and visualization: Baijun Wu

Data curation, supervision, visualization, and editing: Ataul Karim Patwary

Writing of draft, software, and editing: all authors

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Correspondence to Liu Li.

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Li, L., Wu, B. & Patwary, A.K. RETRACTED ARTICLE: How marine tourism promote financial development in sustainable economy: new evidences from South Asia and implications to future tourism students. Environ Sci Pollut Res 29, 1155–1172 (2022). https://doi.org/10.1007/s11356-021-15709-1

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