The impact of extreme climate on tourism sector international stock markets

A quantile and time-frequency perspective

Dados Bibliográficos

ID21689395
AutoresRan Wu (0000-0002-5806-7617, Southeast University), Hongjun Zeng (0000-0002-5437-2710, RMIT University, autor correspondente), Mohammad Zoynul Abedin (0000-0002-4688-0619, Swansea University), Abdullahi D Ahmed (0000-0003-4472-0205, RMIT University)
Ano2025
Volume31
Fascículo8
Páginas1598-1628
Data de publicação2025-12-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoTourism Economics (JOURNAL)
Identificadores do periódicoISSN: 1354-8166 • E-ISSN: 2044-0375
EditoraSAGE Publications (PUBLISHER • US)
DOI10.1177/13548166241311633
OpenAlexW4406096640
IdiomaEN
Citações recebidas4
Referências citadas66

This paper aims to investigate the heterogeneous effects of the Southern Oscillation Index (SOI) on the tourism Sector of International Stock Markets under varying climate conditions and time-frequency using the Quantile-on-Quantile Regression (QQR) method, the quantile Granger-causality test and Wavelet Coherence method. The study’s findings reveal that: (1) Pacific Rim countries exhibited greater sensitivity to SOI fluctuations, while developed markets demonstrated greater resilience; (2) the quantile Granger-causality test revealed a strong causal relationship between the SOI and tourism indices, particularly during periods of moderate market fluctuations (at the 0.25 and 0.75 quantiles); (3) since 2022, climate sensitivity of tourism markets has intensified, especially in the mid-frequency domain; and (4) during the COVID-19 pandemic, the results remained robust, suggesting that the influence of extreme climate on the tourism market persisted. These findings not only enhance our understanding of the effects of extreme seasonal phenomena on the tourism industries of different countries but also provide insights for the tourism market’s adaptation to climate change

Biology · Climate change · Climatology · Econometrics · Economics · Financial economics · Geography · Granger causality · Quantile · Quantile regression · Stock market · Tourism · Climate variability and models · Market Dynamics and Volatility · Meteorological Phenomena and Simulations · Ecology