The nexus between tourism, economic growth, renewable energy consumption, and carbon dioxide emissions: contemporary evidence from OECD countries.
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The relationship between tourism development, economic growth, renewable energy consumption, and carbon dioxide emissions has been examined in a variety of contexts; however, the extant studies report contradictory findings mainly due to utilizing arbitrary empirical techniques. We present a comprehensive literature review and the effects of tourism development, economic growth, and renewable energy consumption on the carbon dioxide (CO2) emission. Specifically, the effects of gross domestic product, renewable energy consumption, and tourism receipts on carbon dioxide emissions in OECD countries are examined utilizing the bootstrap panel cointegration technique and the augmented mean group estimator. The results showed that tourism development has negative and significant effects on CO2 emission in Canada, Czechia, and Turkey, while tourism development has positive and significant effects on CO2 emission in Italy, Luxembourg, and the Slovak Republic. Also, Belgium, France, New Zealand, and the Slovak Republic have shifted towards sustainable tourism practices. Theoretical and practical implications are discussed.