Behavioural foundations of tourists’ financial decision-making: a Stimulus-Organism-Response perspective in emerging tourism cities

Tourism decisions involve substantial financial judgement, yet limited research explains how tourists translate financial capability into realised travel behaviour. Drawing on a Stimulus-Organism-Response framework, this research examines how digital financial literacy and financial self-efficacy influence budgeting and spending behaviour. It further investigates how these mechanisms shape travel outcomes in the context of an emerging tourism city. Using survey data from 375 tourists in Jharkhand, India, the findings reveal that financial capability does not directly influence travel intention. Instead, budgeting behaviour emerges as a central self-regulatory mechanism linking financial capability to spending control, while spending reflects situational execution rather than commitment. Subjective norms and attitudes remain the primary drivers of travel intention. However, intention may lead to realisation, recommendation, or postponement depending on perceived constraints. By distinguishing between financial planning and financial execution, this study advances tourism finance research and clarifies how tourists regulate discretionary travel spending in digitally mediated, price-sensitive urban environments.