Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Climate impacts Location: Auditorium B: Frøystein Gjesdal Session Chair: Maximilian Huppertz, Bank of England | |
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Tourism Demand Spillovers after Hurricane Strikes University of Bern, Switzerland This study investigates the direct and spillover effects of hurricane strikes on tourist arrivals in the Caribbean. We utilize a physically based index of hurricane destruction and develop a measure of indirect hurricane exposure on nearby islands to identify spillovers. After accounting for variation in location, time, and location-specific seasonality, we find that hurricanes significantly decrease the number of tourist arrivals in the destinations hit, but increase the number of arrivals on nearby islands. This tourism spillover effect is more pronounced for cruise ship arrivals than air arrivals and generally disappears after one year. Not accounting for spillovers, the average hurricane strike reduces monthly arrivals by 4.2% for air and by 37.7% for cruise ship arrivals. This is likely due to cruise ships changing their routes to non-affected destinations in reaction to a hurricane, resulting in a significantly larger spillover: the average hurricane strike nearby increases cruise ship arrivals by 16% compared to 0.7% for air arrivals. Our results suggest that policymakers could coordinate with the tourism industry to encourage the diversion of tourism by air to reduce the negative economic consequences of hurricanes in the region. | |