Tourism persistence in Asean countries: The impact of Covid-19

Abstract

Purpose – This study deals with the COVID-19’s effects on the travel sector in ASEAN countries and applies fractional integration methods. Methodology/Design/Approach – The persistence and seasonality of foreign tourist visitors in ASEAN members is investigated using monthly data at different time periods. Findings – The results demonstrate that the series’ nature has undergone significant changes as a result of the present epidemic, moving from mean reversion in the period before Covid, to its absence once the data of the pandemic are incorporated in the series. In fact, using the whole dataset, the hypothesis of a unit root cannot be rejected and seasonality becomes almost irrelevant in all series examined. On this basis, the results suggest for more active involvement of certain governments in recovering the tourism industry with the intention of reaching the original trend. Originality of the research – To our knowledge ne previous study was conducted to analyze the COVID-19’s effects on the travel sector in ASEAN countries through fractional integration methods.

Keywords

• asean
• covid-19;
• fractional integration
• persistence
• shocks
• tourism