Affiliations 

  • 1 Guangxi Normal University, No.1, Wangcheng, Xiufeng District, Guilin, Guangxi, China
  • 2 School of Hotel and Tourism Management, The Hong Kong Polytechnic University, 17 Science Museum Road TST East, Kowloon, Hong Kong. 22061931g@connect.polyu.hk
  • 3 Guangzhou Sontan Polytechnic College, 432, Zhucun Avenue East, Zengcheng District, Guangzhou, China
  • 4 Faculty of Management, Multimedia University (Malaysia), 63100, Cyberjaya, Selangor Darul Ehsan, Malaysia
  • 5 School of Business Administration, Anhui Vocational College of Defense Technology, No. 56 Middle Meishan Road, Jin'an District, Lu'an City, Anhui Province, China
Environ Sci Pollut Res Int, 2023 Mar;30(13):36439-36449.
PMID: 36547845 DOI: 10.1007/s11356-022-24851-3

Abstract

Opportunities for funding Tourism SMEs are emerging globally due to the expansion of tourism sector. However, it is still being determined how these financial arrangements will be controlled at more significant sizes equitably. In the contemporary period, E7 economy is deficient in producing the financial resources to ensure the availability of funds for the acquisition of funds for tourism-based SMEs. However, this research tested the empirical position of cost of debt in E-7 economies during COVID-19 crises. Study findings have shown significant outcomes between the constructs. The variation of conditions, structural uncertainty, transection systems, and variation in support by the financial institution for tourism-based SMEs are the main reasons that lessen borrowing and lending system of funds, from banks to SMEs. However, theorists must revisit the transaction system of debt financing for SMEs. Policymakers are suggested to develop viable and SME system-friendly policies to finance through debt capital from the banks in the time of structural imposed crises, like COVID-19.

* Title and MeSH Headings from MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine.