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

Abstract

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.

Unlocking MSME Performance: The Interplay of Financial Literacy, Financial Inclusion, and Financial Technology Lending with Venture Capital Mediation

“…There is a positive and significant effect of financial inclusion on MSME performance, supporting previous studies yielding the same result (Mujiatun et al, 2023;Thathsaani & Jianguo, 2022). This study indicates that improved financial inclusion leads to enhanced business capital.…”

“…Consequently, a hypothesis was formulated for this research: H1: Financial literacy has a positive and significant effect on MSME performance mediated by venture capital Financial inclusion plays influential role in MSME performance (Thathsaani & Jianguo, 2022). Mujiatun et al (2023) found a positive and significant association between Islamic financial inclusion and business performance among halal-tourism entrepreneurs. Financial inclusion is linked to the performance of MSMEs, as it encourages individuals to access financial products, facilitating more unrestricted financial transactions (Efan et al, 2022).…”

Analisis Efektivitas Perencanaan Anggaran Perguruan Tinggi Agama Islam dalam Mencapai Tujuan Strategis

“…Selain itu, integrasi antara perencanaan anggaran dan tujuan strategis institusi menjadi fokus penting dalam penelitian literatur, seperti yang diungkapkan oleh Mujiatun et al (2023). Penelitian ini menunjukkan bahwa institusi yang mampu mengintegrasikan perencanaan anggaran dengan visi, misi, dan tujuan strategisnya cenderung lebih sukses dalam mencapai pencapaian yang diinginkan.…”

“…Integrasi antara perencanaan anggaran dengan visi, misi, dan tujuan strategis institusi menjadi kunci JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) E-ISSN: 2579-5635, P-ISSN: 2460-5891 Volume 10 (2) April Tahun 2024, Hal 1032-1039 penting dalam mencapai keberhasilan. Penelitian literatur menunjukkan bahwa perguruan tinggi agama Islam yang berhasil mengintegrasikan perencanaan anggaran dengan tujuan-tujuan strategisnya cenderung lebih sukses dalam mencapai pencapaian yang diinginkan (Mujiatun et al, 2023).…”

“…Integrasi antara perencanaan anggaran dengan visi, misi, dan tujuan strategis institusi menjadi kunci penting dalam mencapai keberhasilan. Penelitian literatur menunjukkan bahwa perguruan tinggi agama Islam yang berhasil mengintegrasikan perencanaan anggaran dengan tujuan-tujuan strategisnya cenderung lebih sukses dalam mencapai pencapaian yang diinginkan (Mujiatun et al, 2023). Dalam konteks faktor-faktor yang memengaruhi efektivitas perencanaan anggaran, pemahaman mendalam tentang prinsip-prinsip Islam juga memainkan peran krusial.…”