The role of adaptive resilience on the financial performance of Philippine hospitality and tourism enterprises: amid a disrupted business environment

Abstract

This study utilized partial least squares structural equation modeling to investigate the interplay among planned resilience, adaptive resilience, and financial performance in the hospitality and tourism (H&T) sector. Additionally, the potential gender gap in the relationship between adaptive resilience and financial performance was examined through multi-group analysis. Data were gathered from 315 micro and small enterprises in the H&T sector across three key areas in Northern Mindanao, Philippines, selected based on their high tourist traffic. The results revealed that while planned resilience positively influenced adaptive resilience, it did not significantly affect financial performance. Contrary to prior literature, the study indicated an inverse relationship between adaptive resilience and financial performance. This suggests a unique impact of the COVID-19 disruption on financial outcomes and underscoring the limitations of adaptive resilience in driving financial recovery. Moreover, the analysis showed that men exhibited a stronger positive relationship between adaptive resilience and financial performance than women, suggesting gender disparities. In conclusion, this study highlights the critical importance of unified efforts and gender-tailored programs to support the financial recovery of the H&T micro and small enterprises, particularly in developing countries. Further research into the diverse antecedents of entrepreneurial resilience is recommended.