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ASSESSING THE IMPACT OF TERRORISM ON TRAVEL ACTIVITY IN GREECE

 

 

 

Helen Gazopoulou

Bank of Greece

 

 

 

ABSTRACT

The aim of this paper is to assess the volatility of Greek travel receipts by considering the extent to which terrorist strikes can bring about serious unexpected disturbances to the proceeds from tourism.The paper shows that the impact of terrorist attacks at an international level is not expected to bring about a considerable decline of the number of arrivals to Greece. This finding seems consistent with other sources in the literature that argue in favour of the transitory impact of terrorist attacks on the flow of tourists to a specific destination

 

 

JEL classification: H56, L83

Keywords: Terrorism, Tourism, Current Account

 

 

 

 

Acknowledgement: Thanks are due to Z. Bragoudakis, E. Kostika, D. Kosma and P. Liakopoulos for helpful comments. I am also indebted to H. Gibson for valuable assistance. The views expressed in the paper are of the authors and do not necessarily reflect those of the Bank of Greece.

 

 

 

 

 

 

 

Correspondence:

Gazopoulou Eleni

Bank of Greece, 

21 E. Venizelos Ave.,

10250 Athens, Greece.

Tel.: +30 210 320 2363

Email: egazopoulou@bankofgreece.gr


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