Terrorism and the Regional and Religious Risk Perception of Foreigners: The Case of German Tourists
AbstractThis paper analyses how German tourists react to unanticipated shocks that alter their risk perception of selected tourism destinations. Using a difference-in-difference strategy which flexibly accounts for macroeconomic conditions and also addresses potential problems of serial correlation, we isolate significant effects of the 9/11 (2001) terrorist attacks, as well as for the attacks in Egypt (1997), Tunisia (2002), Morocco (2003) and Indonesia (2003). These terror attacks impacted especially on Islamic countries all over the world, indicating a transmission mechanism driven by ethnic and religious proximity. At the same time, tourism into Islamic countries was temporarily substituted by tourism to (south) European countries.
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Bibliographic InfoPaper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number 024.
Length: 22 pages
Date of creation: 2009
Date of revision:
Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 24, 2009
Terrorism; 9/11; Islamic Countries; Tourism Demand;
Find related papers by JEL classification:
- R19 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Other
- D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-04-05 (All new papers)
- NEP-ARA-2009-04-05 (MENA - Middle East & North Africa)
- NEP-CUL-2009-04-05 (Cultural Economics)
- NEP-SEA-2009-04-05 (South East Asia)
- NEP-TUR-2009-04-05 (Tourism Economics)
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