Tourism businesses are facing mounting pressure to address ESG concerns due to increasing regulations and industry-wide goals. Furthermore, investors and consumers are exerting significant influence on businesses. In particular, investors are now seeking socially responsible investments and demanding transparency in non-financial information beyond traditional financial statements. Consumers, on the other hand, are becoming more environmentally conscious and tend to show higher satisfaction and loyalty towards companies that embrace sustainable practices. As a result, tourism companies have a direct and tangible interest in reporting ESG information.

By adopting ESG reporting practices, tourism businesses can demonstrate their commitment to sustainability, meet regulatory requirements, attract socially responsible investors, and build stronger relationships with environmentally conscious consumers. It is an opportunity to showcase their efforts in addressing environmental and social challenges while ensuring long-term success and positive impact in the sector. Some of the tourism areas where the importance of ESG for companies can be clearly seen are:

• Customer acquisition
• Customer retention
• Managing risks and regulations
• Gaining access to sustainable financing
• Managing investor relations