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Spillover network of tourism stocks, metaverse, artificial intelligence, and traditional assets: Do oil-related and volatility shocks matter?

Author

Listed:
  • Oktay Özkan
  • Ojonugwa Usman
  • Anthony Ladis Komba
  • George N Ike

Abstract

The rapid proliferation of technology-based assets in the presence of global shocks can deepen the relationship between financial assets and tourism stocks. This study investigates the spillover network of tourism stocks, metaverse, artificial intelligence, and traditional assets under oil-related volatility shocks. To this end, a Bayesian time-varying parameter vector autoregressive (TVP-VAR) method is applied. The empirical results suggest that tourism stocks are a net shock receiver. These results remain unchanged under oil-related and volatility shocks, indicating that oil-related and volatility shocks primarily reflect broader market dynamics rather than driving systemic risks. Our findings, therefore, provide insights into risk management and hedging strategies for tourism stocks.

Suggested Citation

  • Oktay Özkan & Ojonugwa Usman & Anthony Ladis Komba & George N Ike, 2025. "Spillover network of tourism stocks, metaverse, artificial intelligence, and traditional assets: Do oil-related and volatility shocks matter?," Tourism Economics, , vol. 31(7), pages 1471-1479, November.
    • Handle: RePEc:sae:toueco:v:31:y:2025:i:7:p:1471-1479
    DOI: 10.1177/13548166251353545
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    References listed on IDEAS

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