Analysis of Political Crisis Impact on Tourism : A Panel Counterfactual Approach with Internet Search Index
Existing research has shown that the political crisis events can directly impact the tourism industry. However, the current methods suffer from potential changes of unobserved variables, which poses challenges for a reliable evaluation of the political crisis impacts. This paper proposes a panel counterfactual approach with Internet search index, which can quantitatively capture the change of crisis impacts across time and disentangle the effect of the event of interest from the rest. It also provides a tool to examine potential channels through which the crisis may affect the tourist outflows. This research empirically applies the framework to analyzing the THAAD event on tourist flows from mainland China to South Korea. Findings highlight the strong and negative short-term impact of the political crisis on the tourists’ intentions to visit a place. This paper provides essential evidence to help decision-makers improve the management of tourism crisis
Year of publication: |
[2022]
|
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Authors: | Huang, Bai ; Sun, Yuying ; Wang, Shouyang ; Yang, Boyu |
Publisher: |
[S.l.] : SSRN |
Saved in:
freely available
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