Time-varying foreign currency risk of world tourism industry: effects of COVID-19

Ekta Sikarwar

Current Issues in Tourism, 2021, vol. 24, issue 7, 887-891

Abstract: The effect of excessive volatility in world market currencies caused by COVID-19, especially on the tourism industry, is pervasive. This paper examines the foreign currency risk of 131 tourism firms from 19 countries during the period of the COVID-19 pandemic and compares it with the pre-COVID-19 period to analyse the time-variation of firms’ exposure. The study provides evidence that firms face significantly higher currency risk during this pandemic, whereby firm-specific variables, such as operational efficiency, leverage and hedging, are significant determinants of firms’ currency risk in the tourism industry.

Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://hdl.handle.net/10.1080/13683500.2020.1868413 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rcitxx:v:24:y:2021:i:7:p:887-891

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rcit20

DOI: 10.1080/13683500.2020.1868413

Access Statistics for this article

Current Issues in Tourism is currently edited by Jennifer Tunstall

More articles in Current Issues in Tourism from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().