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Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Does climate policy uncertainty affect tourism demand? Evidence from time-varying causality tests
Author(s): Apergis, Nicholas
Gavriilidis, Konstantinos
Gupta, Rangan
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Keywords: climate policy uncertainty
climate policy uncertainty index
air-travel destinations
structural breaks
time-varying causality test
Issue Date: 23-Jun-2022
Date Deposited: 28-Jun-2022
Citation: Apergis N, Gavriilidis K & Gupta R (2022) Does climate policy uncertainty affect tourism demand? Evidence from time-varying causality tests. Tourism Economics.
Abstract: This study examines whether climate policy uncertainty affects the propensity of people to travel. To do so, we employ the Climate Policy Uncertainty (CPU) index and US air-travel data to eight regional overseas destinations for the period 2000–2019. Using time-varying causality tests to deal with the structural breaks that exist in the relationship between CPU and US air travel, we find that CPU is a major determinant of air-travel demand to all destinations examined. The results are robust when we control for macroeconomic factors, uncertainty and geopolitical risks. The findings have important implications for destination countries and tourism professionals.
DOI Link: 10.1177/13548166221110540
Rights: This article is distributed under the terms of the Creative Commons Attribution 4.0 License ( which permits any use, reproduction and distribution of the work without further permission provided the original work is attributed as specified on the SAGE and Open Access page (
Notes: Output Status: Forthcoming/Available Online
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