The impact of global uncertainty and risks on the global tourism index

Uncertainties and risks are two leading factors affecting investors’ decisions. In the presence of uncertainty, investors may postpone consumption investment decisions due to a wait-and-see policy, whereas be abandoned in risky situations. Due its high demand elasticity, particular, renders tourism as one sectors most affected by increase uncertainty risks. this context, it is aimed determine whether or not any relationship between global Economic Policy Uncertainty index (EPU), Geopolitical Risk Index (GPR) Volatility (VIX) STOXX Global 1800 T&L exists. The probable variables tested using monthly data over period from August 2006 December 2018 via Johansen cointegration test DOLS FMOLS coefficient estimators. As result study, found that there long-term related indices VIX EPU indexes have an adverse impact on index.