The impact of country risk spillover on tourism

56 Pages Posted: 17 Jan 2022

Date Written: January 13, 2022


Financial risk is largely ignored in the tourism literature where most of the research concentrates only on economic or political factors. Hence, we examine the effect of composite country risk, which includes economic, financial and political risks as they all play a significant role in determining inbound tourism flows. Therefore, the overall country risk that comprises all three of these risk components may be a better measure rather than focusing only on political or economic risk. Our finding suggests that as the composite risk of a country increase It discourage tourism and political risk in a neighbouring country can be a blessing and has positive spillover effects “One Man’s Loss is Another Man’s Gain”.

Keywords: Arab Spring, Tourism, Financial risk, Political risk, economic risk, Spillover, North Africa.

JEL Classification: C58,P16,D81,G24,G32, L83

Suggested Citation

Khondoker, Md Rubel, The impact of country risk spillover on tourism (January 13, 2022). Available at SSRN: or

Md Rubel Khondoker (Contact Author)

Birmingham City University ( email )

4 Cardigan Street, Curzon
Birmingham, B4 7BD
United Kingdom

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
PlumX Metrics