China is the world's largest developing country, with a large population base and a high proportion of rural dwellers. Rural construction, agricultural development and farmers' incomes are three of the main problems hampering China's economic development. In 2022, the Chinese government proposes to promote the revitalization of rural tourism, deepen the diversified values of the rural areas, and promote the sustainable development of rural tourism in China. Taking China as an example, this paper analyzes the digital financial inclusion’s adoption and discusses the role and importance of it in supporting the development of rural tourism. In this paper, several representative digital inclusive finance platforms, such as Rural Commercial Bank, WeBank and Alipay, were selected to support the development of rural tourism in China. It is found that digital inclusive finance has broad application prospects and great potential in rural tourism, which can provide diversified financial services to rural tourism entrepreneurs, help them address the problem of lack of financing, and improve their competitiveness and sustainable development capacity. At the same time, a digital inclusive financial platform can also offer convenience and protection to consumers of rural tourism and promote their participation and satisfaction. However, the process of digital inclusive financing to support the development of rural tourism also faces some challenges and limitations. Drawing upon the findings of the study, this paper offers a series of policy recommendations and actionable measures aimed at providing guidance and strategic orientation for the effective development and integration of digital financial inclusion within the sphere of rural tourism.
Adeola, O., & Evans, O. (2019). Digital tourism: mobile phones, internet and tourism in Africa. Tourism Recreation Research, 44(2), 190-202.
Adeola, O., & Evans, O. (2020). ICT, infrastructure, and tourism development in Africa. Tourism Economics, 26(1), 97-114.
Agrawal, G., & Jain, P. (2019). Digital financial inclusion in India: a review. Behavioral Finance and Decision-Making Models, 195-203.
Agwu, M. E. (2021). Can technology bridge the gap between rural development and financial inclusions?. Technology Analysis & Strategic Management, 33(2), 123-133.
Ahmed, S., & Sur, S. (2021). Change in the uses pattern of digital banking services by Indian rural MSMEs during demonetization and Covid-19 pandemic-related restrictions. Vilakshan-XIMB Journal of Management, 20(1), 166-192.
Ahmed, S., & Sur, S. (2021). Change in the uses pattern of digital banking services by Indian rural MSMEs during demonetization and Covid-19 pandemic-related restrictions. Vilakshan-XIMB Journal of Management, 20(1), 166-192.
Bongomin, G. O. C., Yourougou, P., & Munene, J. C. (2019). Digital financial innovations in the twenty-first century. Journal of Economic and Administrative Sciences, 36(3), 185-203.
Chaoyue, C., Jianxiong, T., and Yujing. L. (2023). Spatial Effects of Digital Economy on Tourism Development: Empirical Research Based on 284 Cities at the Prefecture and Higher Levels in China. Tropical Geography, 43 (4): 720-733.
Chen. (2018). Research on Consumer Finance Innovation Under the Background of Internet. Zhejiang University
Chen, Y., & Wen, T. (2023). Can Digital Inclusive Finance Promote the Integration and Development of Rural Industries? A Dual Case Analysis Based on Pengzhou, Sichuan and Tiandong, Guangxi. Journal of Secretariat, 41(1), 3-13.
China Economic Net. (2023). Ordered promotion of the development of digital inclusive finance. [N]. Retrieved from
http://en.ce.cn/subject/2023/twosessions23/EconomicWatch/
Dong, Y., & Ye, R. (2022). The Panan Rural Commercial Bank guards the common wealth of agritainments. [N]. Zhejiang News. Retrieved from
https://zj.zjol.com.cn/news.html?id=1933334
Dredge, D., Phi, G., Mahadevan, R., Meehan, E., & Popescu, E. S. (2018). Digitalisation in Tourism. depth analysis of challenges and opportunities, 6.
Feng, S., Chong, Y., Yu, H., Ye, X., & Li, G. (2022). Digital financial development and ecological footprint: Evidence from green-biased technology innovation and environmental inclusion. Journal of Cleaner Production, 380, 135069.
Ge, H., Li, B., Tang, D., Xu, H., & Boamah, V. (2022). Research on digital inclusive finance promoting the integration of rural three-industry. International Journal of Environmental Research and Public Health, 19(6), 3363.
Hossain, M. I., Maideen, M. B. H., Sharmin, N., & Islam, T. (2023). COVID-19 Repercussions on Bangladeshi On-Demand-Food Delivery, Restaurant, and Hotel Industry. International Journal of Innovation and Business Strategy (IJIBS), 18(1), 50-62.
Hossain, M. I., Polas, M. R. H., Rahman, M. M., Islam, T., & Jamadar, Y. (2020). An exploration of COVID-19 pandemic and its consequences on FMCG industry in Bangladesh. Journal of Management Info, 7(3), 145-155.
Hua, P. (2021). Tourism consumer finance in the new development stage: concept expansion, model innovation and research prospect—-from the perspective of literature review Res. Fin. Dev. 10, 49-54
Huang, Y., Wang, X., & Wang, X. (2020). Mobile payment in China: Practice and its effects. Asian Economic Papers, 19(3), 1-18.
Iimedia .(2022). China’s total domestic tourism revenue and year-on-year growth rate, 2011-2022. Retrieved from http://data.iimedia.cn/
Iimedia. (2023). The amount of rural tourism spent by users in China in 2023. Retrieved from http://data.iimedia.cn/
Li Zheng. (2019). Innovation and Research on Financing Strategies for Capital-Intensive Tourism Enterprises in the Internet Finance Era. [D]
Li, T., Ma, J., Li, T., & Ma, J. (2021). Does digital finance benefit the income of rural residents? A case study on China. Quant. Financ. Econ, 5, 664-688.
Liu, Y., Liu, C., & Zhou, M. (2021). Does digital inclusive finance promote agricultural production for rural households in China? Research based on the Chinese family database (CFD). China Agricultural Economic Review, 13(2), 475-494.
Liu, Z. (2023). Financial Empowerment of Xuyi Rural Commercial Bank Boosts High Quality Development of Rural Revitalization. [N]. Jinan Times. Retrieved from http://www.jntimes.cn/jsdt/ha/202302/t20230226_7843473.shtml
Lu, L., Ren, Y., Zhu, D., Cheng, J., Yang, X., Yang, Z., & Yao, G. (2019). Research framework and prospect of rural tourism leading rural revitalization. Geographical Research, 38(1), 102-118.
Ministry of Culture and Tourism. (2023). Total domestic tourism arrivals reach 2.530 billion in 2022. N] Surfing News. Retrieved from
Ngo, N. T. (2022). Research on the Applications of Blockchain Technology Within Tourism Industry in Vietnam: Proposed Model in Phu Quoc Island. Hosted By The School of Hospitality and Tourism.
Nofal, M. I., Al-Adwan, A. S., Yaseen, H., & Alsheikh, G. A. A. (2020). Digital marketing effect to intention to domestic tourism during COVID-19 in Jordan. Periodicals of Engineering and Natural Sciences, 8(4), 2471-2483.
Peking University Digital Financial Inclusion Index. (2022). Fourth Issue (2011-2021). Retrived from https://www.sohu.com/a/582629834_641521
Pu, X. (2023). SWOT Analysis of Digital Transformation of Inclusive Finance of Chinese Commercial Banks. In Proceedings of the 6th International Conference on Economic Management and Green Development (pp. 1085-1096). Singapore: Springer Nature Singapore.
Ren, C., & Ren, Y. (2021). Integration of Digital Finance and Shared Tourism from the Perspective of Financial Function. Journal of Hebei University (Philosophy and Social Sciences), 46(4), 128.
Schuetz, S., & Venkatesh, V. (2020). Blockchain, adoption, and financial inclusion in India: Research opportunities. International journal of information management, 52, 101936.
Schuetz, S., & Venkatesh, V. (2020). Blockchain, adoption, and financial inclusion in India: Research opportunities. International journal of information management, 52, 101936.
Setiawan, B., Nugraha, D. P., Irawan, A., Nathan, R. J., & Zoltan, Z. (2021). User innovativeness and fintech adoption in Indonesia. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), 188.
Shan, Q. (2023). Keywords for high-quality development of inclusive finance. [N]. Sina Finance. Retrieved from Sina Finance
(2023).https://finance.sina.com.cn/money/bank/yhpl/2023-01-29/doc-imycvpiv0490762.shtml?cre=tianyi&mod=pcpager_china&loc=40&r=0&rfunc=94&tj=cxvertical_pc_pager_spt&tr=174&wm=22796374
Sharma, A., Sharma, S., & Chaudhary, M. (2020). Are small travel agencies ready for digital marketing? Views of travel agency managers. Tourism Management, 79, 104078.
Sina News. (2022). The goal is clear! By the end of 2022, the Internet penetration rate in rural areas will exceed 60%. (2022). [N]. Retrieved from https://t.cj.sina.com.cn/articles/view/1714250464/662d62e001901971c
Tencent News. (2023). PBC: RMB 213.99 trillion yuan balance of loans by financial institutions at the end of 2022. [N]. Retrieved from
http://www.pbc.gov.cn/en/3688229/3688353/3688356/4271098/4515014/2022032411414559365.pdf
The 51st Statistical Report on China’s Internet Development,CNNIC(2023),26. https://www.cnnic.com.cn/IDR/ReportDownloads/202307/P020230707514088128694.pdf
Yu Shaolin. (2022). Changle Rural Commercial Bank: Green Credit Empowers "Green Water and Green Mountain". [N] Fuzhou Daily. Retrieved from https://www.360kuai.com/pc/9822374288f129823?cota=3&kuai_so=1&sign=360_57c3bbd1&refer_scene=so_1
Yuanzhen, Y. (2020). A Study on Promoting the Strategy of Tourism-Driven Development in Xinjiang from the Perspective of Supply-Side Reform. Seek Truth From Facts, (3).
Zhou, L., Han, L., & Xiu, J. (2022). How can digital inclusive finance support rural revitalization: From the perspective of industrial development. Southern Finance, 4, 70-78.