Muhammad Abubakr Naeem, Nadia Arfaoui, Sitara Karim, Weng Marc Lim
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引用次数: 0
Abstract
Tourism markets have faced significant challenges due to global geopolitical and economic events. This study aims to investigate the asymmetric connectedness across regional and country-level tourism markets. By employing a time–frequency-domain analysis informed by the efficient market hypothesis and modern portfolio theory, we construct connectedness networks for both regional and country-level markets. Our findings reveal a strong asymmetric connectedness in these markets, with negative return spillovers being particularly prominent during events such as the 9/11 attacks, London and Madrid bombings, the 2007–2009 global financial crisis, European debt crisis, Syrian and Libyan civil wars, the emergence of ISIS, and the COVID-19 outbreak. These insights offer valuable implications for stakeholders in regional and country-level tourism markets and suggest effective strategies for recovery and resilience.
期刊介绍:
Journal metrics are valuable for readers and authors in selecting a publication venue. However, it's crucial to understand that relying on any single metric provides only a partial perspective on a journal's quality and impact. Recognizing the limitations of each metric is essential, and they should never be considered in isolation. Instead, metrics should complement qualitative reviews, serving as a supportive tool rather than a replacement. This approach ensures a more comprehensive evaluation of a journal's overall quality and significance, as exemplified in Current Issues in Tourism.