Analysing and Designing Circular Value Networks for Sustainable Tourism – a Case Study

Grezes-Burcher, Sandra; Grezes, Vincent Article Analysing and Designing Circular Value Networks for Sustainable Tourism – a Case Study ENTRENOVA - ENTerprise REsearch InNOVAtion Provided in Cooperation with: IRENET - Society for Advancing Innovation and Research in Economy, Zagreb Suggested Citation: Grezes-Burcher, Sandra; Grezes, Vincent (2025) : Analysing and Designing Circular Value Networks for Sustainable Tourism – a Case Study, ENTRENOVA - ENTerprise REsearch InNOVAtion, ISSN 2706-4735, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb, Vol. 10, Iss. 1, pp. 234-254, https://doi.org/10.54820/entrenova-2024-0020 This Version is available at: https://hdl.handle.net/10419/317963 Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. 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If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by-nc/4.0/ 234 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 Analysing and Designing Circular Value Networks for Sustainable Tourism – a Case Study Sandra Grèzes-Bürcher Institute of Tourism, HES-SO Valais/Wallis University of Applied Sciences and Arts Western Switzerland, Switzerland Vincent Grèzes Entrepreneurship & Management Institute, HES-SO Valais/Wallis University of Applied Sciences and Arts Western Switzerland, Switzerland Abstract This exploratory study addresses the lack of literature on circular value networks in sustainable tourism ecosystems. The authors argue that circular, cross-industrial value networks can optimize the use of both tangible and intangible resources within a tourism region, fostering sustainable development. This is particularly relevant given tourism's significant CO2 emissions and its role in addressing SDGs such as goals 3 (good health and well-being), 8 (sustainable economic growth), and 12 (sustainable consumption and production). The central research questions are: “How can unused regional resources in a tourism context be valorised?” and "How does integrating circular value networks in a tourism destination contribute to sustainable development?" Using systemic design methodology (Battistoni et al., 2019), the researchers identify unused resources and existing and potential cross-industrial circular value networks in the Regional Nature Park Pfyn-Finges in the canton of Valais, Switzerland. They analyse selected value networks, examining their potential, challenges, and impact on all three dimensions of sustainability, and design ideal value networks based on these findings. The study highlights the significant potential of unused resources to enhance circular multi-actor value networks within a tourism destination, contributing to all aspects of sustainability and boosting the destination's resilience. Keywords: Circular economy, value networks, systemic design, sustainable tourism, regional nature park JEL classification: R11 Regional Economic Activity: Growth, Development, Environmental Issues, and Changes Paper type: Research article Received: 10 March 2024 Accepted: 1 September 2024 DOI: 10.54820/entrenova-2024-0020 235 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 Introduction The tourism industry is facing numerous challenges including climate change, environmental degradation, global competition, evolving tourist needs, and global health crises like COVID-19, which have exposed its vulnerabilities. Tourism's environmental impact is paradoxical: it significantly harms the environment through high energy and water use, food waste, CO2 emissions, and traffic, yet the appeal of tourism relies heavily on the beauty of landscapes and pristine nature. Despite global efforts towards making tourism sustainable and resilient, progress remains insufficient, necessitating new strategies to address these multifaceted issues (Niewiadomski & Brouder, 2024). The concept of Circular Economy (CE) is often seen as a promising approach to operationalize the principles of sustainable development (Kirchherr et al., 2017). A CE presents an alternative to the linear 'take-make-use-dispose' model by highlighting the need for continuous circular material and energy flows, thus minimizing waste (Borrello et al., 2017). Strategies that characterize a circular economy include optimizing material usage, extending the lifespan of products and their components, and enhancing the efficiency of product use and manufacturing (Kirchherr et al., 2017). To date, CE research has primarily focused on the manufacturing sector, with particular emphasis on engineering and scientific technologies (Rodriguez et al., 2020). In contrast, research on service-oriented industries, such as tourism, remains limited (Einarsson & Sorin, 2020). Moreover, most existing research linking CE and tourism has concentrated on micro-level applications, particularly from environmental and business management perspectives, notably within hotels and restaurants (Renfors, 2022). Einarsson & Sorin (2020) emphasize that collaboration and joint value creation among stakeholders within value networks are crucial for the success of circular and sustainability initiatives. Therefore, more research involving network-level investigations, and a multi-stakeholder perspective is needed (Renfors, 2022). This paper aims to fill this gap by identifying unused resources and exploring both existing and potential cross-industrial circular value networks in the Regional Nature Park Pfyn-Finges, located in the Canton of Valais, Switzerland. The key research questions are “How can unused regional resources in a tourism context be valorised?” and "How does integrating circular value networks in a tourism destination contribute to sustainable development?". This exploratory study adopts a systemic approach (Battistoni et al., 2019), conducting a holistic analysis of the case study region by examining its potentialities and criticalities, unused resources, and cross-industrial value networks. The study then delves into selected value networks, evaluating their potential, challenges, and impact across all three dimensions of sustainability. Additionally, it proposes enhancements to existing value networks to optimize their overall impact. The authors argue that better management of both tangible and intangible local resources through circular approaches and cross-industrial value networks can significantly boost the sustainable development and resilience of tourism destinations. Current state of knowledge Circular Economy The concept of a CE provides an alternative to the current linear and unsustainable economic model, which follows a "take, make, use, dispose" approach (Ghisellini et al., 2016; Korhonen et al., 2018). Instead, CE advocates for a circular and regenerative system that minimizes resource input, waste, emissions, and energy leakage 236 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 (Geissdoerfer et al., 2017). As a regenerative system, CE not only restores natural resources but also enhances human and social capital by creating meaningful employment opportunities and promoting a more equitable distribution of resources and financial capital. The CE concept draws inspiration from natural ecosystems through biomimicry, aiming to maintain continuous material and energy flows with minimal waste (Borello et al., 2017). Core strategies for promoting circularity include approaches that directly address material and product resources, as well as those that engage value networks of various stakeholders. Strategies focused on products follow the R framework, which ranges from the basic 3 Rs (reduce, reuse, recycle) to the comprehensive 9 Rs (recover, recycle, repurpose, remanufacture, refurbish, repair, reuse, reduce, rethink, and refuse). These strategies aim to extend the lifecycle and efficiency of products (Geissdoerfer et al., 2017; Kirchherr et al., 2017). In terms of network creation, circular economy (CE) literature has predominantly focused on industrial symbiosis networks, which are considered a promising application for achieving resource efficiency. Industrial symbiosis involves various industries collaborating to gain a competitive advantage by exchanging materials, energy, water, and by-products. The core elements of industrial symbiosis include cooperation and the synergistic opportunities arising from geographic proximity (Chertow, 2000). Although the term suggests a primary focus on industrial production and practices, its scope extends beyond this area. Industrial symbiosis networks can broaden their exchanges to include sectors such as agriculture, horticulture, forestry, fisheries, municipal and urban (Martin & Harris, 2018), and tourism systems. For CE initiatives to succeed, both tangible and intangible resources, as well as geographical and organised proximities, play a crucial role. Local tangible resources encompass natural resources, infrastructure, equipment, and both organic and inorganic waste that can be recycled or repurposed. Local intangible resources include know-how, skills, cultural heritage, and community networks, which play a vital role in shaping and implementing CE initiatives, reflecting the area's identity and values. Geographical proximity streamlines material transport, promotes resource sharing, and enables projects to align with the unique attributes of the area. Moreover, it facilitates coordination and communication among local stakeholders. Organised proximity, characterized by the relational dynamics among local stakeholders and strengthened by a shared sense of belonging and common values, fosters a strong commitment to CE initiatives (Chembessi et al., 2024). Chembessi et al. (2024) categorize local resources into anchored and transferable types. Anchored resources are specific to a region, such as local climate, biodiversity, and traditional practices. Transferable resources, like energy, water, and certain knowledge, can be relocated and applied universally. This distinction underscores that while some CE solutions are globally applicable, others are tailored to local conditions (Chembessi et al., 2024). Circular economy and sustainability A CE closely aligns with the goals of sustainable tourism development (Ghisellini et al., 2016; Kirchherr et al., 2017). In addition to its environmental objective of minimizing material and energy inputs within production-consumption systems and reducing waste emissions, a CE also significantly contributes to sustainable development on economic and social levels. Economically, implementing a CE seeks to lower costs associated with raw materials, energy, waste management, emissions control, and the risks related to environmental regulations and taxation. It also aims to spur innovation in product design and create new market opportunities for businesses. On 237 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 a societal scale, the fundamentals of a sharing economy take precedence, emphasizing the significance of a community of users collectively sharing value, services, or functions efficiently, prioritizing this over individual consumption (Korhonen et al., 2018). Nevertheless, an analysis by Kirchherr et al. (2017) indicates that most authors and practitioners predominantly emphasize the economic benefits of the CE model, with environmental concerns following closely behind. In contrast, Geissdoerfer et al. (2017) discovered that the focus of most scientific papers leans toward environmental issues. However, both studies concur that social issues receive comparatively less attention (Geissdoerfer et al., 2017; Kirchherr et al., 2017). When examining the contribution of a CE to sustainability, it becomes imperative to evaluate the holistic sustainability impact of each case, as mere material cycling or sharing of goods does not guarantee sustainability. For example, utilizing forest residues for renewable energy may appear sustainable on the surface, yet it could disrupt forest ecosystems. Furthermore, the production of renewable energy itself demands energy and results in waste generation. Social and economic dimensions are also influenced; for instance, the establishment of a local food network based on CE principles might inadvertently diminish job opportunities and give rise to new challenges. This intricate interconnectedness underscores that advancements in one domain may engender complexities elsewhere (Korhonen et al., 2018). Circular Economy and tourism While the CE has traditionally been focusing on product manufacturing and resourceintensive sectors, its application within service-oriented industries like tourism is increasingly recognized as crucial. Einarsson & Sorin (2020) emphasize that the CE concept spans the entire economy, requiring engagement from all stakeholders across diverse industries to achieve the essential circular transformation. This is particularly important, as service-oriented industries like the travel sector, with its extensive value chain and ecosystem, exert considerable demand on resources ranging from materials and energy to land, buildings, vehicles, textiles, and consumables. Moreover, the tourism industry is complex and connected to many other sectors, so solving its problems needs comprehensive solutions (Brown & Wyatt, 2010). The CE, being a systemic approach that operates across micro, meso, and macro levels (Kirchherr et al., 2017), offers effective solutions for the tourism industry's social, economic, and environmental issues (Einarsson & Sorin, 2020). Circular tourism encompasses actions such as recovery, reuse, revitalization, valorisation, and regeneration of both tangible and intangible resources. Regarding tangible resources, Manniche et al. (2017) argue that it is crucial to recognize the CE as an approach that involves reimagining tourism companies as producers of various by-products and resources that can be repurposed rather than discarded. For intangible resources, Girard and Nocca (2017) emphasize that circular tourism must also protect and integrate cultural and natural heritage. Reusing cultural and natural assets can create jobs, stimulate new businesses, generate tax revenues, preserve wildlife habitats, and enhance recreational opportunities while reviving cultural values. Additionally, tourism can help sustain unique local knowledge, including values, language, and skills. In this way, circular tourism helps preserve collective memory amid rapid change (Girard & Nocca, 2017). In the tourism context, Janin & Perron (2014) differentiate between generic resources, such as fuel, or undifferentiated food products (such as milk and meat), and those that are specific due to their unique modes of production or their significant interaction with the territory and the historical context of the actors involved. Examples 238 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 in tourism include Reblochon cheese in Haute-Savoie or silk production in the Monts du Lyonnais. In tourism, it is essential to adopt an approach centred on territorial resources, contrasting with purely economic perspectives that often separate sectors and industries. This territorial approach breaks down barriers, fosters collaboration, and aims to address both market and non-market goals, including social and territorial development. It also enhances economic growth by differentiating products and increasing territorial appeal. Within a territory, a resource is not just “a product and a use”; it is systemic, encompassing both material and immaterial elements that distinguish the territory. Valorising these unique resources differentiates the territory and fosters “territorial making,” involving diverse users, like residents and second homeowners (Janin & Perron, 2014). Renfors (2022) reviewed recent developments in CE research in the tourism sector and found that studies have mainly focused on micro-level applications, particularly in environmental and business management areas, such as hotels and restaurants. Emerging topics include circular consumption behaviour, the integration of CE with smart tourism, local supply chain collaboration, and the creation of circular tourism destinations. Renfors (2022) suggests addressing research gaps by adopting a multistakeholder approach and expanding research to the destination level, involving a wider range of stakeholders. She recommends that tourism researchers shift their focus to the macro level to better understand CE in tourism, emphasizing the importance of engaging local stakeholders, such as those in natural cosmetics, textiles, or furniture industries, to advance CE initiatives. To sum up, CE research has primarily focused on material and energy flows, with less emphasis on intangible resources. However, since CE encompasses the entire economy, it is logical to also integrate intangible resources. In the tourism sector, leveraging unique territorial resources is crucial for differentiating offerings. These resources can include both tangible by-products and intangible cultural heritage. The authors argue for considering a wide range of resources, such as waste, human, and financial assets. Additionally, current research on tourism and CE often lacks a multistakeholder perspective that views the destination and its intersections with related industries as the primary unit of analysis. Therefore, the authors suggest a systemic approach that considers the tourism industry's intersections with sectors like forestry, agriculture, and construction. Case study region The case study covers the area of the Pfyn-Finges Nature Park in Valais, Switzerland including the principal destinations of Crans-Montana and Leuk Leukerbad region, known for its thermal baths. The Pfyn-Finges Nature Park consists of 12 municipalities with a total area of 279 km², ranging in elevation from 500 to 4,153 meters. The CransMontana municipal association comprises three municipalities that are also part of the Pfyn-Finges Nature Park and extend up to the Plaine Morte Glacier at nearly 3,000 meters in elevation. Although the two locations are geographically close, they exhibit significant topographical and biological differences due to variations in altitude and terrain. From a tourism perspective, the two regions also attract very different target groups. Additionally, the residents speak two different languages: German and French. 239 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 Methodology The authors draw on systemic design methodology (Bistagnino, 2011). This approach aims to convert theoretical knowledge into practical change strategies tailored to the needs and capacities of specific regions or communities and determine the right level of reproducibility (Barbero & Bicocca, 2015). For this study, the methodology was modified as follows: 1. Data Collection: The researchers conducted a holistic diagnosis by collecting qualitative data from multiple sources, including expert interviews, desktop research, analysis of reports and scientific studies of the concerned destinations, direct observations, and informal discussions with key stakeholders. The authors' indepth knowledge of the region and their extensive experience in tourism research helped them to connect and enrich the collected information (Reason & Bradbury, 2008). Five interviews with destination experts were conducted using the snowball sampling method (Naderifar et al., 2017). This research aimed to identify resources in the tourism industry and related sectors, such as agriculture and forestry, that could be valorised, as well as existing examples and ideas of circular economy value networks. The analysis also focused on assessing the potentialities and criticalities related to these examples and the destinations in general. 2. Data Analysis and System Design: The information was organized into a Rich Picture (Checkland & Scholes, 1990), concentrating on the tourism service chain and its connections with other sectors. Existing circular value networks were analysed, and new relationships were developed to optimize resource utilization and create sustainable value for all stakeholders involved. 3. Model Validation and Solution Prioritization: The researchers prioritize the solutions according to the following criteria: importance in a tourism context, and potential value creation on all three dimensions of sustainability. They presented the model to stakeholders of the nature park team for validation. 4. Hypothesis Formulation: Hypotheses are formulated to be tested in future research. The steps for analysing potential results, implementing actions, and evaluating outcomes and feedback within the systemic design methodology (Battistoni et al., 2019) are not covered in this study and should be addressed in future research. The analytical framework outlined below (figure 1) aids researchers in identifying relevant unused resources, including e.g. organic and non-organic waste. While food waste represents organic waste, textile waste exemplifies non-organic waste. The framework also distinguishes between resources on the supply side and the demand side. Supply-side resources encompass material assets and infrastructure, such as hotels, as well as intangible resources like knowledge and natural resources, including water and animals. On the demand side, resources include intangible assets such as knowledge and financial resources. The authors argue that both tangible and intangible resources are equally important, and their utilization can be optimized from a CE perspective. 240 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 Figure 1 Analytical Framework Source: Authors’ illustration Results Identified resources Numerous resources have been identified in the case study region across various categories of the analytical framework, as shown in Figure 2. Given the wide range of options, it is essential to prioritize resources based on their alignment with the region's unique tourism assets and their potential to maximize economic, environmental, and social value. This prioritization should consider the region's strengths and challenges and aim to create innovative offerings that address tourists' needs, engage stakeholders, and form distinctive value networks, ultimately benefiting all parties and supporting regional development. 241 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 Figure 2 Identified resources in the case study region Source: Authors’ illustration Waste resources The organic waste identified in the case study region presents promising opportunities for valorisation, particularly through the creation of products and experiences derived from residues of local food and beverage production. Additional examples include food waste such as unharvested fruit from residents and waste generated by local shops. A promising and well-established example is the transformation of grape seeds into flour and oil, which are then used to create products such as bread, pastries, and cosmetics, including soaps, creams, and exfoliants. The bakery involved in processing grape seeds has built an impressive network (see figure 3) that includes e.g. a cheese dairy and a butcher shop. The dairy produces a cheese with a grape seed rind, while the butcher marinates his meat with grape seeds. This concept could be expanded to enhance the wellness experience, offering tourists the benefits of vinotherapy, including massages with grape seed oil. This is particularly well-suited to the case study region, which includes Leukerbad, renowned for its thermal baths and diverse wellness offerings. This network generates regional economic value for all the participating providers while also fostering stronger connections between them. This is a desirable development in a region where tourism is often characterized by small businesses that 248 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 Figure 6 Value network based on textile waste Source: Authors’ illustration Resources of supply side The valorisation of resources on the supply side is often closely tied to the challenges faced by tourism destinations, challenges that are shared by many others. One of those challenges is the shortage of housing for seasonal workers. An idea to address this is for students from the University of Applied Sciences in Sierre, a small city in the case study region, to share their apartments with seasonal workers during holiday breaks. This approach allows potentially underutilized infrastructure to be effectively repurposed. This arrangement could allow students to save on rent while providing seasonal workers with convenient housing. However, this concept only exists as an idea, and its implementation would face several challenges, such as gaining the interest and approval of flat owners. Another challenge is the limited employment of seasonal workers. Regarding immaterial resources, such as work force, knowledge, or skills on the supply side, employee sharing presents an interesting approach to addressing challenges like the limited employment of seasonal workers. For instance, seasonal workers employed in tourism during the winter could transition to roles in companies that need workers during the summer. A current example is ski instructors who work for the nature park administration in the summer, or who take on roles as foresters during that season. Such practices are increasingly common in various destinations. These approaches offer multiple benefits, including reduced recruitment efforts for companies, year-round employment for workers, and corresponding economic and social advantages for them. To tackle the shortage of skilled professionals, tourism service providers could recruit students from the regional University of Applied Sciences who are enrolled in tourism or management programs. This approach benefits both the tourism industry and the students, providing the latter with valuable hands-on experience. However, a key challenge is the frequent turnover of students, which requires continuous investment in training. It could also be considered to involve retirees for different tasks to keep them engaged, a practice already implemented in some tourism regions of the canton. This approach provides both social and economic benefits for retirees and businesses alike. 249 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 Moreover, there are intangible resources, such as valuable local knowledge and expertise closely tied to the region, that can be leveraged for tourism. For example, intergenerational wisdom about medicinal herbs and nature can greatly enhance tourism, increase public awareness, and promote better health. The case study region already provides experiences led by local experts who have extensive knowledge of indigenous plants and their medicinal properties. This provides local experts with an additional source of income. Two examples of utilizing natural resources are particularly noteworthy. First, animals can be employed to manage landscapes, a key asset for tourism. For instance, sheep can graze in vineyards and forests or help maintain rocky steppes in conjunction with goats. This is already practiced in the nature park region. The second example involves using worms to compost pomace that would otherwise be discarded. This method offers several benefits: it reduces freight transport, lowers costs and energy consumption related to transportation, and enhances marketing, image, and innovation for the business. Additionally, these benefits can be highlighted and valued during guided tours. Environmentally, it also reduces pollution. This approach could be applied to pomace that is not repurposed for oil, flour, or cosmetic products. Resources of demand side Intangible resources related to the demand side encompass manpower, knowledge, skills, and capacities from tourists, including second homeowners and MICE (Meetings, Incentives, Conferences, and Exhibitions) tourists. Notably, second homeowners often have a strong attachment to their chosen location and are willing to invest in it. This aligns well with the needs of small enterprises that may e.g. lack the knowledge and workforce required to organize large events. The nature park also invites nearby businesses, their employees, local schools, and tourists to participate in maintaining pastures and restoring stone walls, which are crucial for biodiversity. This involvement not only raises awareness and sensitivity to these important issues but also strengthens a sense of community. Financial resources of tourists and especially second homeowners are also interesting resources to help the tourism destinations. The authors focus on innovative approaches that go beyond traditional tourism taxes, local product purchases, and standard tourism services. One challenge of foresters e.g. is that services provided in the forest for recreational purposes incur costs, but tourism destinations often are unwilling to pay for them. Therefore, it could be beneficial for second homeowners to finance forestry work in exchange for free firewood. Another example from a nearby region involves a sponsorship system where tourists can become "adoptive parents" for animals such as dogs, cows, or sheep, thereby providing additional income for local farmers. Discussion One of the aims of this paper is to analyse how unused regional resources can be valorised within a tourism context. By adopting a broad definition of resources, the study identifies various regional assets with valorisation potential, encompassing both material and immaterial aspects. Additionally, the paper explores how integrating circular value networks into a tourism destination can contribute to sustainable development. Many examples highlight how by-products from local specialties present valuable opportunities for valorisation. These unique regional by-products can help differentiate the destination and enhance its appeal (Janin & Perron, 2014). A notable example from the case study region is the transformation of grape seeds into various products 250 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 and experiences. These value networks involve numerous stakeholders and offer crossindustrial collaboration opportunities, benefiting both local businesses and tourists. They also help build social capital within the region and can positively impact tourists' health, as by-products like grape seeds contain beneficial properties such as antioxidants. Developing wellness offerings around these by-products creates distinctive and memorable experiences for tourists. Moreover, they offer an opportunity to raise tourists' awareness about sustainability and the circular economy issues. These value networks contribute to regional added value creation and help reduce waste generation. Food waste from restaurants, hotels, and shops can be better utilized by enhancing the entire service chain, which involves addressing gaps in existing offerings. For example, a food waste app that lacks a transport service could integrate with an existing ecological transport service in the destination. It is crucial to identify and leverage existing services to enhance value networks and create a more integrated service experience. In the context of food waste, raising awareness is also important. For example, by harvesting and processing unpicked fruit from local residents, tourists can learn about the principles of a circular economy and the issues surrounding food waste. Alongside economic and environmental benefits, integrating people with disabilities into processing activities can also generate social capital. Other organic resources associated with the region's emblematic products also hold potential for tourism valorisation. For example, old wine barrels can be upcycled into furniture for hotels and tourists, while second homeowners—who form a significant portion of the case study region and often possess substantial financial resources— can contribute to this market. Similarly, old furniture from luxury hotels can be remanufactured by local craftsmen into unique pieces with a distinct history. This not only adds economic and environmental value through product life extension but also fosters a sense of exclusivity for the owner. This is particularly interesting in the emerging field of sustainable luxury tourism research (see Gurung et al., 2022). The storytelling aspect of these products is particularly appealing in a tourism context. Therefore, each tourism destination should seek out assets that can be upcycled and have potential for storytelling, reflecting the territory’s unique heritage and history. As the results of this study indicate, the valorisation of intangible resources is often connected to addressing current challenges in tourism regions, such as workforce shortages or the prevalence of seasonal workers with limited employment contracts. Better management of resources on the supply side might involve sharing a workforce between enterprises that require employees either in summer or winter, employing students from a nearby university’s tourism program to provide them with practical experience, engaging retired individuals who want to feel needed, or offering opportunities to unemployed people to utilize their skills. While these strategies present certain challenges, they offer potential benefits for both the industry and the individuals involved. This approach generates economic benefits, such as reducing recruitment efforts for businesses, as well as social benefits through the integration of people with disfavoured working conditions or in search for work. In addition to these obvious challenges, other more implicit issues can be addressed by leveraging unused workforce and knowledge. For example, the challenge of preserving biodiversity and maintaining landscapes can be addressed by involving tourists who are interested in learning about the environment and seeking meaningful experiences during their vacations. This approach aligns with the concept of meaningful travel (Câmara et al., 2023). Intangible cultural heritage, such as ancient knowledge of local medicinal plants, can also be valorised in tourism through experiential offerings. This aligns with Chembessi et al.’s (2024) classification of 251 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 resources, which includes knowledge on implementing circular and sustainable development practices. On the demand side, intangible resources can include valuable knowledge from tourists, such as management expertise that can assist small local businesses in organizing events. Additionally, there is potential to creatively utilize the financial resources of tourists to support local community members, such as foresters or farmers. For example, they could provide financial support to these sectors in exchange for benefits such as free firewood or the opportunity to sponsor a cow or sheep. Second homeowners are particularly relevant in this context, as they often have a deep emotional and cognitive connection to the area, which fosters a desire to preserve and engage with it, according to place attachment theory (Stylidis et al., 2020). Additionally, their extended stays, facilitated by having a vacation home, further strengthen their involvement and commitment to the local community. The study’s results remain broad and warrant further exploration in future research. It is crucial to integrate CE principles in tourism with emerging approaches like regenerative tourism that seeks to create “net positive effects by enhancing the regenerative capacity of human societies and ecosystems” (Bellato et al., 2023, p. 1034) could complement the circular economy framework. This approach focuses on restoring economic, environmental, and social capital, as illustrated in some of the examples discussed. Finally, the different insights presented above lead to the following hypotheses: • H1: Regional value networks based on by-products of local products restore social, environmental and economic capital • H2: Creating experiences and products that have a positive environmental impact attracts wealthy visitors form urban areas in search of meaning • H3: By engaging underutilized human resources, social capital can be restored. • H4: By involving tourists in nature preservation efforts, the environmental capital of the region can be restored. • H5: By harnessing external human resources—such as the knowledge, skills, and financial support of second homeowners—economically struggling groups in tourism destinations, like farmers and small enterprises, can find new opportunities for growth and sustainability. To sum up, there are numerous opportunities to leverage unused tangible and intangible resources within a tourism region. The real challenge lies in implementation and the willingness of various stakeholders to share their knowledge, embrace innovation, and break away from traditional mindsets. A nature park provides an ideal setting to experiment with and develop these approaches. Conclusion This exploratory and holistic systemic study has identified numerous opportunities for integrating unused resources into tourism offerings through multi-stakeholder value networks in a circular and regenerative manner, resulting in economic, social, and environmental benefits. For example, grape seeds, a by-product of a local product, can be transformed into valuable experiences and products. Sharing seasonal workers or recruiting underutilized labor can address current challenges faced by tourism destinations. Additionally, exchanging knowledge and skills between locals and tourists can foster community building and strengthen social capital. Innovative strategies can be developed to mobilize financial resources for economically struggling stakeholders in the tourism sector. 252 ENTRENOVA - ENTerprise REsearch InNOVAtion Vol. 10 No. 1 This study contributes methodologically by developing an analytical framework that aids both scholars and practitioners in identifying unused resources within a tourism destination. The study also advances theoretical understanding by emphasizing the significance of multi-stakeholder value networks and a systemic perspective on tourism destinations within the context of a circular economy. It underscores the need to integrate complementary concepts, such as the circular economy and regenerative tourism, advocating for a holistic approach that goes beyond the traditional focus on material and energy flows associated with the manufacturing industry. In tourism destinations, resources can be valorised in various ways, often involving the combination of different resource flows. Given the exploratory and holistic nature of this study, the results remain broad. Future research should delve deeper into the various possibilities, guided by appropriate theoretical frameworks. Moreover, future research should focus on testing the presented hypotheses and evaluating the feasibility, desirability, and viability of the proposed solutions using a design thinking approach. This includes creating and testing prototypes, as well as developing qualitative and quantitative indicators to assess their impact on economic, social, and environmental sustainability. It is crucial to address the missing steps in the systemic design methodology and ensure that benefits at one level do not create negative impacts at another. Additionally, it is important to measure whether these values contribute to the restoration of economic, social, and environmental capital within a regenerative tourism framework. References 1. Barbero, S., & Bicocca, M. (2015). 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Delivers lectures on sustainability, alternative economic models and ecosystem analysis. She studied geography with a specialization in sustainable development and received her PhD from the University of Bern . She gained experience at the Swiss National Parcs Network, the Swiss Working Community for Mountain Areas, and her research interests are circular economy, sustainable tourism innovation, regional development and rural areas. The author can be contacted at [email protected] Dr. Vincent Grèzes works as an associate professor of innovation management, and strategic and international management at the University of Applied Science Western Switzerland (HES-SO) in Sierre, and is director of the competitive intelligence track at the HES-SO Master of Integrated Innovation for Product & Business Development in Lausanne, Switzerland. He received his PhD in economic and strategic intelligence from the Faculty of Law and Political Science of the University of Lyon 3, France. His main research interests are competitive intelligence, the creation of shared values, business model innovation and collaborative and open innovation. Author can be contacted at [email protected]