Exploring the co-movements between COVID-19 pandemic and international air traffic: A global perspective based on wavelet analysis.

Abstract

The travel and tourism industry was one of the fastest‐growing industries before the onset of the COVID‐19 pandemic. However, to avoid COVID‐19 spread, the government authorities imposed strict lockdown and international border restrictions except for some emergency international flights that badly hit the travel and tourism industry. The study explores the nexus between international air departures and the COVID‐19 pandemic in this strain. We use a novel wavelet coherence approach to dissect the lead and lag relationships between international flight departures and COVID‐19 deaths from January 2020 to September 2020 (COVID‐19 first wave period). The results reveal that international flights cause the spread of COVID‐19 spread during May 2020 to June 2020 worldwide. The overall findings suggest asymmetries between daily international flight departures and COVID‐19 deaths globally at different time‐frequency periods due to uncertainty surrounding the COVID‐19 pandemic. The study will be conducive for the policymakers to control the upsurge of COVID‐19 spread worldwide.