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All Journal Global Review of Tourism and Social Sciences
Ice Anggraini
Universiti Tenaga Nasional
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Global Tourism Equity Reactions to Health, Geopolitical, and Digital Infrastructure Shocks: A Multi-Event Study Ice Anggraini; I Gede Angga Permana; Made Dayuh Hary Kosala; Putu Ayu Pratiwi Duta Siwantari
Global Review of Tourism and Social Sciences Vol. 3 No. 1 (2026): Global Review of Tourism and Social Sciences
Publisher : Yayasan Ghalih Pelopor Pendidikan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53893/grtss.v3i1.549

Abstract

Global tourism equities may respond differently to public-health, geopolitical, and digital infrastructure shocks because operating models transmit disruption through distinct channels. This paper presents a prespecified, cross-market event-study protocol covering airlines, hotel groups, cruise operators, and online travel intermediaries around four information milestones: the WHO emergency declaration in January 2020, the invasion of Ukraine in February 2022, the Israel–Gaza conflict outbreak in October 2023, and the global IT outage in July 2024. The proposed analysis uses publicly accessible daily security prices, local-market benchmarks, exchange-specific event timing, market-model abnormal returns, and dependence-aware inference. It also specifies subsector and regional contrasts, falsification tests, and source-audit procedures. The contribution is a transparent business-model exposure–transmission framework and a reproducibility-oriented research design, not an estimate of completed crisis effects. As no audited price panel or calculated abnormal returns accompany the manuscript, empirical results and tests of the hypotheses remain pending. The paper must therefore be assessed as a research protocol rather than a completed empirical event study.
Co-Authors I Gede Angga Permana Made Dayuh Hary Kosala Putu Ayu Pratiwi Duta Siwantari