From pandemic to systemic risk: contagion in the U.S. tourism sector

Syed Jawad Hussain Shahzad, Thi Hong Van Hoang and Elie Bouri

Current Issues in Tourism, 2022, vol. 25, issue 1, 34-40

Abstract: This paper investigates the interconnectedness among 95 tourism firms in the U.S. over the 2018–2020 period with a focus on the impact of the Covid-19 pandemic. The results using tail risk spillover analysis show that the level of risk contagion significantly increased during the Covid-19 pandemic. Small tourism firms become more systemically important during the Covid-19 pandemic while the level of bad risk contagion has a negative impact on the stock performance of US tourism firms.

Date: 2022
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DOI: 10.1080/13683500.2021.1881050

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