The CBOE Volatility Index (CBOE VIX), which is used by investors in making investment decisions to measure the level of risk, fear, or stress in the market, is a real-time market index indicating the expectations of the market regarding volatility for the coming 30 days ( https://www.investopedia.com ).
Published in Chapter:
Economic Impacts of the Pandemic on the Tourism of the Developing World: The Case of COVID-19
Ayca Sarialioglu Hayali (Karadeniz Technical University, Turkey) and Cabir Celik (Karadeniz Technical University, Turkey)
Copyright: © 2021
|Pages: 20
DOI: 10.4018/978-1-7998-8231-2.ch007
Abstract
The COVID-19 pandemic crisis of 2020 with its policy measures and economic impacts has negatively affected the tourism industry, which is regarded as the most negatively affected one due to the nature of the sector, both directly and indirectly. In other words, through its policy measures such as restrictions on travel, it has affected the tourism sector directly, and through its economic impacts such as decreasing GDP per capita and hence total demand, it has influenced the tourism sector indirectly. In this regard, the aim of this study is to empirically investigate the economic impacts of the pandemic on tourism of the developing world for the case of the COVID-19 pandemic crisis of 2020. This is done by a panel data analysis including 38 developing countries for the nine months of 2020, January-September, the ongoing era of pandemic crisis of 2020 considering the available data. The findings support the main hypothesis of the study.