Impact Of Perceived Extreme Risks On Tourism

Tourism industry contributes tremendously to the annual earnings of some countries and there are various factors affecting performance of businesses in this field.In this thesis,a case study of Thailand will be conducted in an attempt to analyze different factors that affect the tourism businesses.Regardless of the fact that Thailand's reputation has been tainted by various extreme events such as natural disaster,political instability,and terrorism business,it made its way up to the top chart as one of the most visited destinations in Asia.As a result,Thailand's tourism industry stands a large portion of its annual Gross domestic product,thus underlines the significance of tourism industry to Thailand.The methodology used in this study involves questionnaires,interviews and change point analysis.The questionnaires are designed with the potential tourists at the main target of interest,on the other hand,interviews were conducted with the tourist operators as the main target.Finally,change point analysis was used on the available historical data.According to the questionnaires,while all extreme events have negative impacts on visiting intension of the respondents,only political instabilities showed evidence of significance influences.Interestingly,the experts' opinions suggest that the impact of natural disasters lasts for the longest time,while terrorist acts hold the least influence in terms of both the magnitude and the duration of impact.Lastly,the change point analysis shows that there will be a downward trend when the magnitude of the political instabilities and natural disasters are high enough,however it is not possible to draw the same conclusion for terrorism attack because acts of terrorism tend to occur frequently far from the tourism attractions.