Innovation and the multiple dimensions of sustainability are essential for business competitiveness in general and for tourism in particular. Business models (BMs) describe how companies create, deliver, and capture value; however, no prior systematic review has examined the integration of BMs, innovation, and sustainability within the context of nature-based tourism (NBT). To address this gap, this study conducts a systematic literature review (SLR) of 77 conceptual and empirical articles published between 2002 and 2023. The findings reveal that the literature on NBT remains fragmented, with limited integration of sustainability and innovation into tourism BMs. This review clarifies the conceptual foundations of NBT, BMs, and sustainability, and proposes original definitions of Innovative Sustainable Business Models (ISBMs) and NBT. It further identifies key research gaps and outlines future research directions and managerial implications, including the potential of ISBMs to enhance competitiveness, resilience, and service quality in NBT companies.

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Nature-based tourism,Innovation,Sustainable tourism,Business model,Competitiveness

• Economia e Gestão - Ciências Sociais