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Does Energy Risk Lead to Tourism Fall in Europe? Insights from Partially Linear Functional-Coefficient Model

Author

Listed:
  • Matyusupov, Bunyod

    (Department of Economics, Urgench State University, Urgench, 220100, Uzbekistan)

  • Svec, Roman

    (Department of Trade and Tourism, Faculty of Economics, Ceské Budejovice, Czech Republic)

  • Pícha, Kamil

    (Department of Trade and Tourism, Faculty of Economics, Ceské Budejovice, Czech Republic)

  • Matyakubov, Umidjon

    (Faculty of Economics and Humanities, Mamun University, Khiva, 220900, Uzbekistan)

  • Oydinova, Parizod

    (Faculty of Foreign Philology, Urgench State University, Urgench, 220100, Uzbekistan)

  • Narmetov, Jakhangir

    (Oguzhan Engineering and Technology University of Turkmenistan, Faculty of Economics of Innovations, Ashgabat, Turkmenistan)

Abstract

The study empirically assesses the non-linear effect of energy risk on tourism in the case of 28 European countries during the period of 2000-2020. To this end, the partially linear functional-coefficient model (PLFC) is employed. The findings reveal that energy risk negatively impact on tourism, validating the theoretical linkage. As control variables, economic development positively impacts on tourism, whereas government effectiveness and foreign direct investment have negative effects on tourism in Europe. The policy implications such as implementing smart energy management systems, energy decentralisation, transition to renewable energy, cooperation between the different actors and stakeholders for achieving energy efficiency are proposed.

Suggested Citation

  • Matyusupov, Bunyod & Svec, Roman & Pícha, Kamil & Matyakubov, Umidjon & Oydinova, Parizod & Narmetov, Jakhangir, 2024. "Does Energy Risk Lead to Tourism Fall in Europe? Insights from Partially Linear Functional-Coefficient Model," International Journal of Energy Economics and Policy, Econjournals, vol. 15(1), pages 397-406, December.
    • Handle: RePEc:eco:journ2:v:15:y:2024:i:1:id:18055
    DOI: 10.32479/ijeep.18055
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