The Effect of Natural Disasters on Hotel Demand, Supply and Labour Markets: Evidence from the La Palma Volcano Eruption

IF 3.2 3区经济学 Q1 ECONOMICS

Environmental & Resource Economics Pub Date : 2023-10-18 DOI:10.1007/s10640-023-00811-4

Veronica Leoni, David Boto-García

引用次数: 0

Abstract

Abstract Natural disasters are an important deterrent factor for tourism activities from both supply and demand perspectives. This paper studies the short-term effect of a volcano eruption on hotel demand, supply and hospitality labour in La Palma (Spain), an island economy that is highly dependent on the tourism sector. Based on a monthly panel dataset, we employ seemingly unrelated difference-in-differences (SUR-DiD) to identify the distinct responses of these three outcomes both during and post eruption. We are particularly interested in examining the asymmetry in their elasticities to the shock, which serve as indicators of disaster resilience. Potential spillover effects on nearby islands are also examined. We find that the eruption resulted in significant yet asymmetrical drops in international demand, number of hotels opened, and hospitality workers hired. Our findings inform about the resilience of the tourism industry to natural disasters, offering relevant insights about heterogeneous effects depending on exposure to the event.

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自然灾害对酒店需求、供给和劳动力市场的影响:来自拉帕尔马火山爆发的证据

从供给和需求的角度来看，自然灾害都是影响旅游活动的重要因素。本文研究了火山喷发对酒店需求、供应和拉帕尔马(西班牙)酒店劳动力的短期影响，这是一个高度依赖旅游业的岛屿经济。基于每月的面板数据集，我们采用看似不相关的差异中差异(SUR-DiD)来确定喷发期间和喷发后这三种结果的不同反应。我们特别感兴趣的是研究它们对冲击弹性的不对称性，这是灾害恢复能力的指标。对邻近岛屿的潜在溢出效应也进行了研究。我们发现，火山爆发导致国际需求、酒店开业数量和酒店从业人员的显著但不对称的下降。我们的研究结果揭示了旅游业对自然灾害的恢复能力，并提供了有关暴露于事件的异质性影响的相关见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Environmental & Resource Economics Multiple-

CiteScore

10.20

自引率

3.40%

发文量

100

期刊介绍： The primary concern of Environmental & Resource Economics (ERE) is the application of economic theory and methods to environmental issues and problems that require detailed analysis in order to improve management strategies. The contemporary environmental debate is in a constant state of flux and new or relatively unexplored topics are continually emerging. The Journal provides a forum for the further exploration of the causes, consequences and policy responses linked to these topics, across a range of spatial and temporal scales up to the global dimension. Contributions to the Journal should directly or indirectly be relevant to the policy formulation and application process. Areas of particular interest include: evaluation and development of instruments of environmental policy; cost-benefit and cost effectiveness analysis; sectoral environmental policy impact analysis; modelling and simulation; institutional arrangements; resource pricing and the valuation of environmental goods; environmental quality indicators. The editors wish to encourage a pluralistic approach to both theoretical and applied contributions. The publication of empirically based, policy-oriented research is given a high priority in the Journal in order to further critical discussion. Environmental & Resource Economics will also accept papers with an interdisciplinary approach, where this helps to improve knowledge of the real world complexities present, provided that the analysis retains links to or components of economic thinking. The Journal is required reading for economists, economic geographers and other academics, professionals and officials with a working interest in environmental matters.