IC-LEE Model: A Financial Inclusion Framework for Strengthening Coastal Tourism Economies Based on Local Wisdom

Okta Eka Putra; Elan Rusnendar; Fillah Maulana Akbar

doi:10.56741/IISTR.jmsd.001548

Authors

Okta Eka Putra
oktaeka@unibi.ac.id
Universitas Informatika dan Bisnis Indonesia https://orcid.org/0009-0005-7695-477X
Elan Rusnendar Universitas Informatika dan Bisnis Indonesia
Fillah Maulana Akbar Universitas Informatika dan Bisnis Indonesia

DOI:

https://doi.org/10.56741/IISTR.jmsd.001548

Keywords:

Economy Development, Economic Empowerment, Financial Inclusion, Innovation Ecosystem, Local Wisdom

Abstract

This study aims to examine the influence of local wisdom, financial innovation ecosystem, and financial inclusion on the development of the creative economy and local economic empowerment in coastal tourism at Benan Island, Lingga Regency. The research employed a quantitative approach using a model development study design. Data were analyzed through Structural Equation Modeling (SEM) using SmartPLS 4, and questionnaires were distributed to creative business actors and local communities. The results indicate that all proposed hypotheses were supported, showing that local wisdom, financial innovation ecosystem, and financial inclusion significantly affect the creative economy and local economic empowerment, both directly and indirectly through the mediation of financial inclusion and creative economy. The Adjusted R² values confirm that the model adequately explains the variance of the constructs, while the high Goodness of Fit demonstrates strong model suitability. These findings highlight the critical role of integrating local cultural values with financial innovation and creative economy development as an effective strategy to enhance sustainable community economic empowerment. The study provides practical implications for government, academics, and business actors to optimize collaboration in supporting the growth of a creative economy grounded in local wisdom.

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Author Biographies

Okta Eka Putra, Universitas Informatika dan Bisnis Indonesia

is a lecturer at the Faculty of Economics and Business, Universitas Informatika dan Bisnis Indonesia (UNIBI), Bandung. He holds a Master’s degree in Business Management from Universitas Pasundan, Bandung and a Bachelor’s degree in Management from Universitas Widyatama, Bandung. His academic interests include business management, entrepreneurship, and applied statistics, and he is actively engaged in teaching, research, and community service activities. He has authored a variety of teaching materials and book chapters. (email: oktaeka@unibi.ac.id).

Elan Rusnendar, Universitas Informatika dan Bisnis Indonesia

is a lecturer at the Faculty of Economics and Business, Universitas Informatika dan Bisnis Indonesia (UNIBI), Bandung. He has been teaching since 2007 and currently holds the position of Lektor. He earned his Master’s degree in Management from STIE Pasundan Bandung in 2009. His teaching expertise covers Management, Marketing, Accounting, and Consumer Behavior. In 2021, he co-founded the Asosiasi Fakultas Ekonomi dan Bisnis Swasta Indonesia (AFEBSI). (email: elanrusnendar@unibi.ac.id).

Fillah Maulana Akbar, Universitas Informatika dan Bisnis Indonesia

is an active Management student at Universitas Informatika dan Bisnis Indonesia and a mechanic at Honda Abadi Cibiru. Balancing academics and work, he is known for his discipline, dedication, and adaptability. His experience in both technical and organizational settings strengthens his problem-solving and teamwork skills. Outside of work and study, Fillah enjoys music, sports, and languages, reflecting his dynamic personality and passion for continuous self-improvement. (email: fillah666@gmail.com).

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