THE IMPACT OF ECO-TOURISM BUSINESS TRANSFORMATION ON THE EFFECTIVENESS OF THAILAND’S FUTURE GREEN ECONOMY POLICY FORMULATION

Abstract

This research aims to analyze the influence of changes in eco-tourism on the transformation of green economic policy. The analysis adopts a holistic and systematic approach. A mixed-methods research design was employed to ensure the completeness and appropriateness of the findings, with the objective of applying the results to formulate effective strategie s for managing Thailand’s tourism industry to achieve maximum efficiency in the future. The research findings indic ate that the PAr-ARIMAX(1,1,1) model is the most appropriate model, demonstrating strong validity, the absence of spurious relationships, and comprehensive goodness-of-fit measures. This confirms its suitability for use in policy formulation and planning for Thailand, particularly in setting strategic directions for sustainable and continuous growth in the tourism industry. The results further reveal that eco-tourism entrepreneurship has the strongest direct effect on the environmental sector, accounting for 65% at a 1% significance level. This implies that a 1% change in eco-tourism entrepreneurship leads to a 65% change in the environmental sector in the same direction. At the same time, eco-tourism entrepreneurship exerts the greatest influence on changes in the green economy when compared with all other sectors. Moreover, changes in the social sector, especially community participation and cultural transformation, have a substantial impact on eco-tourism entrepreneurship, with an influence of up to 60%. Therefore, the government should consider the combined effects of changes in eco-tourism entrepreneurship and social dynamics, as their integration can maximize positive transformations in the green economy and contribute meaningfully to Thailand’s sustainable national development in the future.