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Tourism persistence in the Southeastern European countries: The impact of covid-19

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  • Guglielmo Maria Caporale
  • Luis A. Gil-Alana
  • Amir Imeri

Abstract

This paper examines tourism persistence in a group of Southeastern European (SEE) countries (Albania, Bosnia, Bulgaria, Croatia, Montenegro, North Macedonia, Serbia and Slovenia) by applying fractional integration methods to monthly data on foreign tourist arrivals and overnight stays. The results indicate that the COVID-19 pandemic has increased the degree of persistence of these series as measured by the fractional differencing parameter; specifically, it has removed the mean reversion property in some countries. In addition, it has reduced the importance of the seasonal component.

Suggested Citation

  • Guglielmo Maria Caporale & Luis A. Gil-Alana & Amir Imeri, 2023. "Tourism persistence in the Southeastern European countries: The impact of covid-19," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(2), pages 2280349-228, October.
    • Handle: RePEc:taf:oaefxx:v:11:y:2023:i:2:p:2280349
    DOI: 10.1080/23322039.2023.2280349
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    References listed on IDEAS

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    1. Elenita Velikova & Stela Dimitrova, 2021. "Sustainable Development Model for Mountain Tourist Territories in Bulgaria after the Crisis Period," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 221-242.
    2. Mohsen Bahmani-Oskooee & Tsangyao Chang & Zahra Elmi & Omid Ranjbar, 2021. "Testing the degree of persistence of Covid-19 using Fourier quantile unit root test," Economics Bulletin, AccessEcon, vol. 41(2), pages 490-494.
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      More about this item

      JEL classification:

      • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
      • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
      • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
      • N74 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: 1913-
      • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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