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Sentiment, Mood and Outbound Tourism Demand

Dragouni M, Filis G, Gavriilidis K & Santamaria D (2016) Sentiment, Mood and Outbound Tourism Demand, Annals of Tourism Research, 60, pp. 80-96.

We investigate spillover effects from sentiment and mood shocks on US outbound tourism demand from 1996 until 2013. We use the Index of Consumer Sentiment and Economic Policy Uncertainty Index as proxies for sentiment and the S&P500 as a proxy for mood. We find a moderate to high interrelationship among sentiment, mood and outbound tourism demand. More importantly, sentiment and mood indicators are net transmitters of spillover shocks to outbound tourism demand. The magnitude of spillover effects sourced by sentiment and mood is time-varying and depends on certain socio-economic and environmental events. Our results have important implications for policymakers and travel agents in their efforts to predict tourism arrivals from key origin countries and to plan their tourism strategy.

Sentiment; mood; spillover effects; economic crisis; economic policy uncertainty; US

AuthorsDragouni Mina, Filis George, Gavriilidis Konstantinos, Santamaria Daniel
Publication date09/2016
Publication date online17/07/2016
Date accepted by journal26/06/2016
ISSN 0160-7383

Annals of Tourism Research: Volume 60

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