Persistence (discontinuity)

Engineering

Statistics

Geotechnical engineering

Time series

Tourism

Archaeology

Economics

Coronavirus disease 2019 (COVID-19)

Mathematics

Geography

Mean reversion

Political science

Econometrics

Infectious disease (medical specialty)

Financial economics

Medicine

Equity (law)

Disease

Pathology

Tourism Economics

We examine in this note the impact of COVID-19 on the Spanish tourism sector by using a strong dependence model. Daily data from five equity markets are used and we find that the coronavirus crisis has increased the persistence in the data, moving in some of the series from a mean reverting process to a non-mean reverting one. Thus, shocks that were expected to be transitory have become permanent, implying the need of strong policy measures to come the series back to their long-term projections.

The impact of COVID-19 on the Spanish tourism sector