The Impact of Marketing Communication and Islamic Financial Literacy on Islamic Financial Inclusion and MSMEs Performance: Evidence from Halal Tourism in Indonesia

The development of halal tourism in Indonesia is the focus of the Indonesian government and MSMEs have an important role in supporting the development of halal tourism in Indonesia. This study aims to examine the relationship between marketing communication and Islamic financial literacy on Islamic...

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Bibliographic Details
Published inSustainability Vol. 15; no. 13; p. 9868
Main Authors Mujiatun, Siti, Trianto, Budi, Cahyono, Eko Fajar, Rahmayati
Format Journal Article
LanguageEnglish
Published Basel MDPI AG 01.07.2023
Subjects
Banks (Finance)
COVID-19
Economic growth
Ecosystems
Employment
Financial inclusion
Islamic banking
Islamic financing
Marketing
Sales promotions
Tourism
Tourists
Travel industry
Indonesia
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Summary:The development of halal tourism in Indonesia is the focus of the Indonesian government and MSMEs have an important role in supporting the development of halal tourism in Indonesia. This study aims to examine the relationship between marketing communication and Islamic financial literacy on Islamic financial inclusion and MSME performance in the halal-tourism sector. A covariance-based SEM technique utilizing LISREL software was used to analyze the data from this investigation. Nonprobability sampling was employed to collect the data, and the sample consists of 152 halal-tourism entrepreneurs. This study found a positive and significant association between Islamic financial inclusion and business performance. This study also found that there is a positive and significant association between Islamic financial literacy and Islamic financial inclusion. Marketing communication and Islamic financial inclusion have a positive relationship, but it is insignificant. This study implies that to establish a halal-tourist ecosystem for long-term development in Indonesia, commercial actors must lend their full support. This study demonstrates that they can thrive when MSMEs in the halal-tourist ecosystem are backed by Islamic banking and Islamic rural banks. As a result, a more accommodating approach from Islamic banking is required to provide access to halal finance for business actors in Indonesia’s halal-tourism ecosystem.
ISSN:2071-1050
2071-1050
DOI:10.3390/su15139868