Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/274727 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 15 [Issue:] 5 [Article No.:] 205 [Year:] 2022 [Pages:] 1-10
Publisher: 
MDPI, Basel
Abstract: 
The unprecedented impact of the COVID-19 on the world tourism is clear and obvious. Still, modelling the impact on individual countries faces many problems from data availability to the multitude of underlying variables rather difficult to capture. This study used simple and multiple regression to research possible effects of the recent pandemic to the fall in the volume of tourism in 20 European countries, throughout the 20-month period. The results of this study were rather surprising showing that the relative fall in tourism cannot be explained only by incidence of COVID-19 by countries, while in multiple regression by adding the variables of distance of travel and composition of tourism by facilities coefficients of determination were very low. Adding variables of natural and cultural heritage as well as of cultural activities somewhat improved the baseline model with the best fitting variable of culture visits adding 11.8 percentage points to the explanatory power of the model, while culture employment and culture consumption added a possibly important 5.6 and 2.6 points, respectively. Although these findings are in line with recent literature of resilience and changes in tourism due to pandemic, a more thorough research is needed to further investigate these relations.
Subjects: 
impact of COVID-19
NATURA
travel
UNESCO
wellbeing
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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