Eco-efficiency, sustainable development and environmental accounting in the tourism industry during a crisis

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Nikolaos Sariannidis, Alexandros Garefalakis ORCID logo, Panagiotis Ballas, Evdoxia Grigoriou


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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.


Tourism industry exploits the local fragile resources of a destination including biodiversity, archaeological and cultural areas with tourists expressing a propensity to visit places with high environmental quality and intensely local culture elements. Thus, traditional tourism management practices that are associated with the environmental degradation and catastrophe of these resources should be scrutinized and avoided. The aim for the particular study is to investigate the notion of sustainable development within the realm of hospitality and tourism industry by suggesting avenues for further research regarding both policymakers and practitioners. The contribution of this study is that it links sustainability management with financial reporting and business performance. Building on the above, it highlights the importance of accounting by shedding light on how the latter could better incorporate environmental practices and performance of a business entity into reporting improving the quality of narratives and usefulness of financial reports to various stakeholders. The novelty of this study is that it proposes the focus on accounting as a mediating factor to imprint sustainable practices adopted by a business entity in an effort to provide quality reports to stakeholders and a tool to diffuse environmentally sensitive practices from the side of policymakers.

Keywords: Sustainable Development, Eco-Tourism, Sustainability Strategy, Tourist Management, Competitiveness, Environmental Accounting

JEL Classification: M4, M2

Received: 13.10.2018

Accepted: 15.11.2018

Published online: 27.11.2018

How to cite this paper: Sariannidis, N., Garefalakis, A., Ballas, P., & Grigoriou, E. (2018). Eco-efficiency, sustainable development and environmental accounting in the tourism industry during a crisis. Corporate Board: Role, Duties and Composition, 14(3), 58-64.