Terrorism and the Regional and Religious Risk Perception of Foreigners: The Case of German Tourists
This 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.
|Date of creation:||2009|
|Date of revision:|
|Publication status:||Published in Hamburg Contemporary Economic Discussions, Issue 24, 2009|
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- Arne Feddersen & Wolfgang Maennig, 2005. "Trends in Competitive Balance: Is there Evidence for Growing Imbalance in Professional Sport Leagues?," Working Papers 0012005, Chair for Economic Policy, University of Hamburg.
- Arne Feddersen, 2006. "Economic Consequences of the UEFA Champions League for National Championships - The Case of Germany," Working Papers 0012006, Chair for Economic Policy, University of Hamburg.
- Wolfgang Maennig & Florian Schwarthoff, 2008. "Stadium Architecture and Regional Economic Development: International Experience and the Plans of Durban," Working Papers 0816, International Association of Sports Economists;North American Association of Sports Economists.
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