The impact of COVID-19 on the Spanish tourism sector

Luis Gil-Alana and Carlos Poza
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Carlos Poza: 16447University Francisco de Vitoria, Spain

Tourism Economics, 2022, vol. 28, issue 3, 646-653

Abstract: We examine in this note the impact of COVID-19 on the Spanish tourism sector by using a strong dependence model. Daily data from five equity markets are used and we find that the coronavirus crisis has increased the persistence in the data, moving in some of the series from a mean reverting process to a non-mean reverting one. Thus, shocks that were expected to be transitory have become permanent, implying the need of strong policy measures to come the series back to their long-term projections.

Keywords: COVID-19; long memory; persistence; Spain; tourism (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:28:y:2022:i:3:p:646-653

DOI: 10.1177/1354816620959914

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