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Oil price shocks and tourism stock prices; global evidence

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  • Dlawar Mahdi Hadi

Abstract

This novel study utilizes nonparametric causality-in-quantile and wavelet coherence analysis to uncover the impact of oil prices on tourism stocks across 12 global leading tourism markets. The findings of nonparametric causality-in-quantile reveal that oil prices impact the tourism stocks only in Germany, Italy, Thailand, and the United States. The overall results of wavelet analysis indicate that oil prices and tourism stocks move in phase with the crucial role of the global economic and financial crisis particularly, the COVID-19 outbreak. Several useful insights for scholars, investors, policymakers, and tourism corporate executives are drawn from this study.

Suggested Citation

  • Dlawar Mahdi Hadi, 2023. "Oil price shocks and tourism stock prices; global evidence," Current Issues in Tourism, Taylor & Francis Journals, vol. 26(9), pages 1384-1388, May.
    • Handle: RePEc:taf:rcitxx:v:26:y:2023:i:9:p:1384-1388
    DOI: 10.1080/13683500.2023.2185879
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