Abstract
ABSTRACT Based on panel data of 138 countries from 1995 to 2019, this study fills the gap in the research of tourism risk mitigation mechanism by adopting the SYS-GMM method for the first time and innovatively verifying whether public policy can mitigate the impact of political risk on tourism from an international perspective. The study finds that political risk has a significant negative impact on international tourism and a far greater impact on tourist arrivals than on tourism economy. Heterogeneity results suggest that tourism in low-income countries is more susceptible to political risk, which has a greater impact on tourism in underdeveloped regions (e.g. Africa, Asia-Pacific). Interestingly, public policy can effectively mitigate the negative impact of political risk on international tourism, with the greatest mitigation effect on tourist arrivals and tourism revenues. This study helps policymakers to accurately grasp the impact of political risk on international tourism and provides targeted suggestions for countries to deal with political risk.
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