The economic development of many countries globally relies heavily on tourism arrivals and spending. Terrorist attacks, political unrest, and other external shocks create disruptions and imbalances that lead to tourism crises with devastating effects on a country's economy. The paper...

This paper estimates the influence of terrorist attacks on European tourism through the short-term post-hoc response of the airline industry and passengers. We use a seasonally-adjusted ARMA-GARCH methodology on unique datasets that examine changes in tourism as measured by ASKs, seats filled...