Applying ESG to Enhance the Competitiveness of Tourism Enterprises: The Case of Ho Chi Minh City

Abstract

In the context of digital transformation and sustainable development, ESG (Environmental, Social, and Governance) has emerged as a strategic factor in enhancing the competitiveness of tourism enterprises. However, empirical evidence in Vietnam remains limited. This study examines both the direct and indirect effects of ESG on competitiveness in Ho Chi Minh City, while testing green innovation and organizational adaptability as mediating variables. Data from a survey of 317 tourism enterprises was analyzed using Structural Equation Modeling (SEM) with reliability and validity confirmed through Cronbach’s Alpha, CFA, and bootstrapping. Results show that environmental practices (β = 0.221; p = 0.003), social responsibility (β = 0.245; p = 0.001), and governance transparency (β = 0.198; p = 0.012) have significant positive impacts, alongside indirect effects through green innovation (β = 0.174) and organizational adaptability (β = 0.159). The model explains 61% of the variance in competitiveness. The findings confirm ESG as a strategic foundation, contributing to modern management theories and sustainable tourism development in Vietnam.