The Impact of Tourism Growth on Entrepreneurship and CO ₂ Emissions: A Global Analysis of Opportunities and Environmental Challenges

This study investigates the dual impact of international tourism on entrepreneurship development and environmental sustainability across 18 countries over a 20-year period. Using panel data estimation techniques—including fixed effects and Generalized Method of Moments (GMM)—the analysis explores how international tourist arrivals influence 11 key entrepreneurship indicators and CO 2 emissions per capita. The results reveal that tourism has a consistently positive and statistically significant effect on various dimensions of entrepreneurship, such as government support, entrepreneurial education, market openness, and cultural norms. At the same time, tourism is found to contribute significantly to rising CO 2 emissions, highlighting its environmental cost. These findings underscore the importance of adopting a balanced policy approach that leverages tourism as a catalyst for entrepreneurial growth while minimizing its ecological footprint. The study recommends a sustainable tourism development strategy that includes investments in green infrastructure, promotion of ecotourism and digital entrepreneurship, implementation of carbon regulations, and integration of smart urban planning. Aligning tourism growth with climate goals and entrepreneurship policies is essential for achieving long-term sustainable development.