Harnessing sustainability and UNESCO recognition for winery growth: A Sys-GMM approach in the Conegliano Valdobbiadene Prosecco PDO

This study investigates the impact of integrating environmental, social, and economic sustainability practices into long-term strategic planning on the demand for winery visits in the Conegliano Valdobbiadene Prosecco region, where winery reputation and UNESCO recognition play pivotal roles. We analyzed the effects of key sustainability practices, winery reputation, and UNESCO recognition on visitor demand using Difference and System Generalized Method of Moments regressions on data from 150 sparkling wine houses over five years (2015–2019). The findings show that environmental certification significantly boosts winery visits, especially when combined with UNESCO's recognition. Social sustainability, particularly investments in vineyard personnel, also enhances visitor growth with considerably higher elasticities than cellar personnel. Economic sustainability practices such as wine tourism tours emerged as key drivers, while appealing wine shops and tasting were less influential. The analysis revealed that winery reputation amplifies the effectiveness of sustainability practices across all pillars of the Triple Bottom Line. The combined effect of reputation and sustainability initiatives, especially in UNESCO-recognized regions, provides an effective strategy for wineries to attract more visitors, ensuring long-term success while preserving local heritage and enhancing the community value of wineries. The study provides actionable insights for wineries seeking long-term resilience and enhanced competitiveness in a dynamic tourism landscape.