Spillover network of tourism stocks, metaverse, artificial intelligence, and traditional assets: Do oil-related and volatility shocks matter?

• Oktay Özkan ^[3] ; Ojonugwa Usman ^[1] ; Anthony Ladis Komba ^[1] ; George N Ike ^[2]
  1. [1] Istanbul Commerce University

     Istanbul Commerce University

     Turquía

     
  2. [2] Girne American University

     Girne American University

     Chipre

     
  3. [3] Faculty of Economics and Administrative Sciences, Tokat Gaziosmanpasa University, Tokat, Turkey

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• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 31, Nº. Extra 7, 2025 (Ejemplar dedicado a: Special Focus: Big Data as a source for verifying theories in tourism economics), págs. 1471-1479
• Idioma: inglés
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• Resumen

  • The rapid proliferation of technology-based assets in the presence of global shocks can deepen the relationship between financial assets and tourism stocks. This study investigates the spillover network of tourism stocks, metaverse, artificial intelligence, and traditional assets under oil-related volatility shocks. To this end, a Bayesian time-varying parameter vector autoregressive (TVP-VAR) method is applied. The empirical results suggest that tourism stocks are a net shock receiver. These results remain unchanged under oil-related and volatility shocks, indicating that oil-related and volatility shocks primarily reflect broader market dynamics rather than driving systemic risks. Our findings, therefore, provide insights into risk management and hedging strategies for tourism stocks.