AN EMPIRICAL ASSESSMENT OF TOURIST’S RISK PERCEPTION AND ITS IMPACT ON DESTINATION LOYALTY: A STUDY OF KASHMIR VALLEY

The aim of this study was to assess the risk perception of domestic tourists visiting volatile destinations such as the Kashmir valley (India) and reveal the impact of various types of perceived risk on destination loyalty formulation. A quantitative research/deductive approach has been adopted for two reasons: (1) to ensure the objectivity, generalisability, and reliability of research findings; and (2) to develop hypotheses based on an existing theory and then collect data to determine whether empirical evidence to support those hypotheses exists. The current study used a convenience sampling method for collecting data from 413 domestic tourists using a self-administered questionnaire. Furthermore, the two-step approach for structural equation modelling (SEM) was used to assess the psychometric properties of the measurement model and test the proposed structural model. The results revealed that all the five types of perceived risks (socio-psychological, political, performance, financial, and physical) negatively affect tourists' destination loyalty, with socio-psychological risk and political risk emerging as major determinants of loyalty intention of domestic tourists. Moreover, the descriptive analysis revealed that the mean perception of domestic tourists on various risk dimensions was low, and they disagreed that Kashmir is a risky place to visit.