Tourism sustainable competitiveness indicator for ASEAN block : A random forest approach

Soh, Ann Ni and Puah, Chin Hong and Mohammad Affendy, Arip (2023) Tourism sustainable competitiveness indicator for ASEAN block : A random forest approach. International Journal of Applied Economics, Finance and Accounting, 16 (1). pp. 33-42. ISSN 2577-767X

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Abstract

This study aims to reveal the tourism performance among ASEAN countries by creating a tourism sustainable competitiveness indicator (TSCI). This study introduces an ensemble random forest approach in developing an integrative framework that incorporates tourism, sustainability and competitiveness. It demonstrates the management of multi-faceted tourism development with the constructed indicator. Six main enablers have been identified for TSCI indicator, including policy and regulatory environment, environmental sustainability, sociocultural sustainability, economic sustainability, infrastructure, and intellectual capital and innovation. As a benchmarking tool for policymakers, organisations, and tourism-related authorities in the implementation of policies and business or marketing strategic planning, the sustainable competitiveness indicator for tourism identified the factors that affect the sustainability and competitiveness of tourism. This indicator enhances the tourism value chains in the Association of Southeast Asian Nations (ASEAN) bloc, as well as it offers significant assistance to the ASEAN Tourism Strategic Plan of 2025. Especially in the context of regionalization, which proceeds along the same trajectory as tourism, it is becoming increasingly significant in building areas of cooperation in the connected Southeast Asian region. Thus, measuring the performance level of the tourism economy is a critical agenda that is worthy of receiving concern as a means of accomplishing sustainable development goals (SDGs).

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