Optimizing the creative economic potential of tourism villages: The impact of financial inclusion and Pentahelix partnerships

Abstract

This study aims to analyze the effect of financial inclusion on the development of creative economic potential in tourist villages and evaluate the role of Pentahelix partnership as a moderating variable. A quantitative approach was used through a survey method of 193 creative economy businesses in Tana Kuning Tourism Village, North Kalimantan. Data analysis was conducted using the Structural Equation Modeling-Partial Least Squares (SEM-PLS) technique. The results showed that financial inclusion has a positive and significant effect on creative economic potential. Meanwhile, the interaction of Pentahelix partnership and financial inclusion has a positive but limited significant effect, indicating that the partnership plays a moderating role that is not yet optimal. The limitation of the study lies in the statistically limited measurement of Pentahelix partnership as a moderating variable, which indicates the need for further exploration of non-technical factors such as social dynamics, culture, and regional regulations. The practical implications of the findings highlight the importance of cross-sector collaborative policies to encourage local wisdom-based financial inclusion. The originality of this research lies in the integration of the resource-based view and stakeholder theory in building an empirical model of financial inclusion, strengthened by Pentahelix partnership synergy in the context of the creative economy of tourist villages in border areas.