ENSURING SOCIAL RESPONSIBILITY OF THE HOSPITALITY INDUSTRY THROUGH THE PRISM OF IMPACT INVESTING
Abstract
The article is devoted to the study of the peculiarities of ensuring social responsibility of the hospitality industry through the prism of impact investing. The results of the study outline the key role of impact investing policy in promoting regional economic development and improving the environment. Against the backdrop of the post-pandemic revival of the hospitality industry, the integration of impact investing is becoming vital for both developing and developed countries. Given the global environmental crisis, the study highlights the need for effective mechanisms of international cooperation to address environmental issues, positioning impact investing as a catalyst for achieving sustainable economic development goals, promoting environmentally friendly practices and addressing global environmental imperatives. The study also found that impact investing policy plays a crucial role for countries in terms of regional economic development and environmental improvement. Urgent global environmental challenges, such as global warming and energy shortages, necessitate the search for effective measures that have a positive impact on public policy making. The primary objective of such policies is to promote human capital development and ensure the long-term implementation of strategic goals. This is particularly important for countries with high potential for tourism development, as tourism and hospitality are closely linked. The hospitality industry catalyses tourism recovery and offers opportunities for impact investing. Impact investing in this sector can contribute to its growth and improve sustainable economic development policy practices. In 2022, energy shortages and energy dependence have become critical issues for many countries. This has created a need to explore alternative sources of renewable energy and develop new product markets to stimulate the development of the energy market. The hospitality industry, which has experienced a recovery from the negative effects of the COVID-19 pandemic, has significant potential for growth. Therefore, social investment in the hospitality sector is becoming crucial for both developing and developed countries. Given the current global environmental crisis, effective mechanisms for international cooperation are essential to addressing environmental challenges. Impact investing contributes to the achievement of sustainable economic development goals, promotes environmentally friendly practices, and helps to address the global environmental situation. It is important to recognise the limitations of this study. The findings of the study cannot be universally applied, as the impact of investments can vary significantly depending on regional and sectoral differences in the hospitality industry. Therefore, future research should focus on specific regions or countries to identify regional differences and nuances in the impact of impact investments.
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