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The aim of this chapter is to study catastrophic pandemics which have occurred in the twentieth and twenty-first centuries and their disruptive impact on tourism mobility. A detailed study of past pandemics is conducted starting from the black death or bubonic plague of 1346 to the recent COVID-19 outbreak and effect of these diseases on the tourism and economy of the infected countries. Studies show that influenza pandemics will prove to be the most dangerous in future, and the next outbreak could occur from any of the 16 known HA (haemagglutinin) subtypes. Also, it is found that tourism itself has been responsible for spread of pandemic outbreaks as countries around the world put an enormous emphasis on increased growth of tourist numbers. Among recent pandemics, it was severe acute respiratory syndrome (SARS) that caused the major decrease in international tourist arrivals although for a short term. Such pandemics have a negative effect on tourism destinations by damaging their image and competitiveness, and as a result, leading to disruptions in mobility of tourists, with Asian countries being the most at risk of such disruptions. Therefore, the findings of this study stress the need for pre-crisis management to handle such outbreaks, better traveller tracking system to check infected persons and the need for tourism destinations to diversify their economies to reduce dependency on tourism.

The crude oil market has experienced an unprecedented overreaction in the first half of the pandemic year 2020. This study aims to show the performance of the global crude oil market amid Covid-19 and spillover relations with other asset classes.

The authors employ various pandemic outbreak indicators to show the overreaction of the crude oil market due to Covid-19 infection. The analysis also presents market connectedness and spillover relations between the crude oil market and other asset classes.

One of the essential findings the authors report is that the crude oil market remains more responsive to pandemic fake news. The shock of the global pandemic panic index and pandemic sentiment index appears to be more promising. It has also been noticed that the energy trader's sentiment (OVX and OIV) was measured at a too high level within the Covid-19 outbreak. Volatility spillover analysis shows that crude oil and other market are closely connected, and the total connectedness index directs on average 35% contribution from spillover. During the initial growth of the infection, other macroeconomic and political events remained to favor the market. The second phase amidst the pandemic outbreak harms the global crude oil market. The authors find that infectious diseases increase investor panic and anxiety.

The crude oil investors' sentiment index OVX indicates fear and panic due to infectious diseases and lack of hedge funds to protect energy investments. The unparalleled overreaction of the investors gauged in OVX indicates market participants have paid an excessive put option (protection) premium over the contagious outbreak of the infectious disease.

The empirical model and result reported amid Covid-19 are novel in terms of employing a news-based index of the pandemic, which are based on the content analysis and text search using natural processing language with the aid of computer algorithms.

原油市場在流行病肆虐的2020年的頭半年經歷史無前例的過度反應。本文旨在顯示全球原油市場在2019冠狀病毒病流行期間的表現及原油市場與其它資產類別之溢出關係.

我們使用各種大流行病爆發的指標，來顯示原油市場因2019冠狀病毒病的感染而過度反應。我們的分析亦涉及市場的關聯性及原油市場與其它資產類別之溢出關係.

我們其中一個基本的發現是: 原油市場仍對大流行病的虛假新聞有更迅速的反應。全球大流行病恐慌性指數及大流行病情緒指數所帶來的震驚似乎是有希望的。大家亦察覺，能源交易商的情緒(OVX及OIV) 在2019冠狀病毒病爆發期間被測量為處於太高的水平。波動溢出分析顯示、原油與其它市場有密切的關係，而總關聯度指數引導平均35%來自溢出量的作用。在感染傳播初期，其它的宏觀經濟和政治事件仍對市場有利。在大流行病爆發期間的第二階段則損害全球原油市場。我們發現，傳染病會增加投資者的恐慌和焦慮.

原油投資者的情緒指數OVX顯示因傳染病及因缺乏對沖基金來保障能源投資而帶來的懼怕和恐慌。於OVX測算到的投資者空前的過度反應顯示市場參與者就這傳染病的感染爆發付出過量的賣權(保障)權利金.

我們的經驗模型和在2019冠狀病毒病肆虐期間匯報的研究結果，從使用以新聞為基礎的流行病指數的角度而言是新穎的。而這些全以內容分析和正文搜尋為基礎、使用自然語言處理，並輔以計算機算法.

Tourism activity is a global industry and, as such, it is subject to global risks. International travel has developed exponentially over the last few decades. At the same time, diseases have increased their geographical spread influenced by ecologic, genetic and human factors. Currently, the increasing virus, epidemic and pandemic outbreaks represent some of the most negative consequences of globalization, causing deaths and significant economic losses due to the negative impacts they have on the tourism industry, one of the sectors that have been the most affected by health crises.

This work presents insights on the epidemics, pandemics and virus outbreaks that have occurred throughout the twenty-first century and how those occurrences have affected the tourism industry and the global economy. A brief literature review on health risks in tourism is presented, followed by a clinical perspective to help people understand the differences between endemics, outbreaks, epidemics and pandemics. Then, the study offers a presentation of the most significant pandemics in recent human history and a deep analysis of the COVID-19 disease. Finally, the effects that the different pandemics, epidemics and outbreaks that occurred in the present century had on tourism are explained, and the challenges tourism has to face are presented and discussed.

This study aims at evaluating the effect of the COVID-19 pandemic on the export trade system for Mauritius during the first half of 2020 (January 2020–June 2020).

An initial analysis of the monthly export time series data proves that on the whole, the series have diverged from their actual trends after the outbreak of the COVID-19 pandemic: observed values are less than those predicted by the selected optimal forecast models. The authors subsequently employ the Bayesian structural time series (BSTS) framework for causal analysis to estimate the impact of the COVID-19 pandemic on the island's export system.

Overall, the findings show that the COVID-19 pandemic has a statistically significant and negative impact on the Mauritian export trade system, with the five main export trading partners and sectors the most affected. Despite that the impact in some cases is not apparent for the period of study, the results indicate that total exports will surely be affected by the pandemic in the long run. Nevertheless, this depends on the measures taken both locally and globally to mitigate the spread of the pandemic.

This study thus contributes to the growing literature on the economic impacts of the COVID-19 pandemic by focussing on a small island economy.

Purpose – Purpose of the research is to make a comprehensive study to elucidate the existing landscape of scientific production of disease outbreaks, pandemics and tourism research. In doing so, authors analyzed scientific production of pandemics and tourism-related studies such as year-wise publications, productive authors, institutes, funding sponsors, thematic areas of research and citation analysis.

Design/methodology/approach – Authors analyzed the research papers indexed in the online Scopus database over 50 years of time starting from 1971 to 2020 by using bibliometrics, and the data are visualized by using data visualization tools like VOSviewer and the Tableau.

Findings – The understanding of disease outbreaks and pandemics in tourism has increased over the years in terms of number of papers, citation, networks and collaborative themes of research.

Research limitations/implications – Data for the study were generated from Scopus online database and limited to English-written journal articles that were produced with search strategy of specific keywords associated with tourism, virus, pandemics and disease outbreak.

Practical implications – Findings of the research provide insights into academia and practitioners on the understanding of disease outbreaks, pandemics and tourism research, coherent development of the concept and understanding the research gap and focussed area of research.

Originality/value – As per authors' understanding, this paper would be one of the first attempts to provide greater understanding of disease outbreaks, pandemics and tourism as a research topic by examining the growth and evolution in an academic context through bibliometric analysis.

Paper type – Review paper.

The main purpose of this study is to make a comparative evaluation of the impacts of previous outbreaks and coronavirus disease 2019 (COVID-19) on the tourism industry. COVID-19 appears to have disrupted all memorizations about epidemics ever seen. Nobody has anticipated that the outbreak in late December will spread rapidly across the world, be fatal and turn the world economy upside down. Severe acute respiratory syndrome, Ebola, Middle East respiratory syndrome and others caused limited losses in a limited geography, thus similar behaviors were expected at first in COVID-19. But it was not so. Today, people continue to lose their lives and experience economic difficulties. One of the most important distressed industries is undoubtedly tourism.

This study is a literature review. In this review, a comparative evaluation between the impact of previous outbreaks and COVID-19 on the tourism industry has been made based on statistics and previous research studies.

The information and figures obtained show that COVID-19 and previous outbreaks have such significant differences that cannot be compared. COVID-19 has been one of the worst to live in terms of spreading speed, the geography where it spreads, loss of lives and negative effects in the whole area.

It is noteworthy that COVID-19 is very severe in terms of death cases and also its impacts on the economy compared to other pandemics. It remains to be argued that COVID-19 can also be a reference in terms of possible new outbreaks in the future, and is an effective actor in determining future strategies.

The purpose of this study is to investigate how the digital competence of academicians influences students’ engagement in learning activities in the face of the pandemic outbreak. In addition to this, the paper investigates how digital competence influences each dimension of student engagement (cognitive, affective and behavioural).

A cross-sectional, quantitative and explanatory research design was used to conduct the study. Data were gathered with an adopted questionnaire administered to a randomly selected sample of 500 university faculty members who were not digitally literate prior to the outbreak of the pandemic. Apart from the goodness of data tests, inferential statistics were applied to test hypotheses.

Results indicate a significant influence of teachers’ digital competence on student engagement and the pandemic outbreak positively moderates the relationship. Digital competence equally influences all three dimensions of student engagement.

The outbreak of COVID-19 made the adoption of digital life more compulsive and the nations with already available digital infrastructure and digital competence effectively minimized the adverse effect of social distancing as a result of the pandemic outbreak. Findings emphasize practitioners to focus on the digital capacity building of academicians and the provision of digital infrastructure to facilitate student engagement.

Society is transforming into a hi-tech lifestyle and technological advancement is penetrating almost every sphere of life at an unprecedented pace. From the digitalization of day-to-day affairs to e-governance, the adoption of technology is becoming a new normal. The outbreak of the pandemic overtook academic institutions equally. So, the social distancing compelled academicians and other stakeholders of universities to switchover from in-campus classes to online classes. The findings enrich the existing body of literature by explaining how digital competence has a determining role in ensuring student engagement amid the COVID-19 outbreak.

This research is a seminal work, as it tests the influence of digital competence on student engagement with the moderating role of the pandemic outbreak. To the best of the author’s knowledge, existing literature does not present this kind of research.

People with pre-existing mental health conditions are more likely to be affected by global crises. The Covid-19 pandemic has presented them with unique challenges, including reduced contact with the psychiatric rehabilitation and support systems. Thus, understanding the emotional experience of this population may assist mental health organizations in future global crises.

In this paper, researchers analyzed the discourse of the mentally ill during the Covid-19 pandemic, as reflected in Israeli Facebook groups: three private groups and one public group. Researchers explored the language, reactions, emotions and sentiments used in these groups during the year before the pandemic, outbreak periods and remission periods, as well as the period before the vaccine’s introduction and after its appearance.

Analyzing groups’ discourse using the collective emotion theory suggests that the group that expressed the most significant difficulty was the Depression group, while individuals who suffer from social phobia/anxiety and PTSD were less affected during the lockdowns and restrictions forced by the outbreak.

Findings may serve as a tool for service providers during crises to monitor patients’ conditions, and assist individuals who need support and help.

This study tends to investigate how the outbreak of the coronavirus disease 2019 (COVID-19) pandemic has affected banks' contribution to systemic risk. In addition, the authors examine whether the impact of the pandemic may vary across advanced/emerging economies, and with banks with differed characteristics.

The authors construct the bank-specific conditional value at risk (CoVaR) and marginal expected shortfall (MES) to measure their contribution to systemic risk and define the outbreak of the COVID-19 pandemic by the timing when countries report more than 100 confirmed cases. The authors use the approach of difference-in-differences to assess the impact of the COVID-19 pandemic on banks' contribution to systemic risk. This sample comprises monthly panel data of around 900 listed commercial banks in 39 advanced and emerging economies.

The authors find that, firstly, the COVID-19 pandemic increased banks' contribution to systemic risk significantly around the world. Secondly, the impact of the COVID-19 virus was more pronounced in developed countries than in emerging economies. Finally, banks with a larger size and higher loan-to-deposit ratio are more greatly affected by the COVID-19 pandemic, while a higher capitalization for banks is insufficient to shelter them from the adverse impact of such pandemic.

The authors assess the impact of the COVID-19 pandemic on banks' contribution to systemic risk. Using the conditional value at risk (marginal expected shortfall) of banks as the measure, this study’s results suggest that banks' contribution to systemic risk increases by around 25% (48%) amid the COVID-19 pandemic. This study’s findings may shed some light on the potential policies that financial regulators may employ to ameliorate the adverse outcomes of the ongoing pandemic.

This paper aims to provide swift feedback to readers and investors on the early effect of novel coronavirus (COVID-19) pandemic outbreak on tourism industry.

Three leading consolidators of hotel accommodations, airline tickets and travel services in the tourism industry around the globe, namely, Booking Holdings Inc., Expedia Group and Trip.com Group Ltd. are chosen in this study. First, numerical description is performed on their shares prices and a set of control variables to compare their performances before and during the lockdown because of COVID-19 outbreak. Next, this paper estimates ordinary least squares models with and without exponential generalized autoregressive conditional heteroskedastic specification to establish the nature, significance and magnitude of the pandemic’s early effect on the shares performance of these online travel companies (OTCs).

This paper discovers a rapid decline in the performance of tourism industry amid the pandemic outbreak, from the perspective of three leading OTCs, which derive their profits from tourists by providing them online hotel reservation, air-ticketing and packaged-tour business services around the globe. These significant adverse direct and indirect effects testify that tourism-related businesses are extensively locked down by the pandemic outbreak.

Future studies are encouraged to examine each of the tourism sectors for individual effects.

This paper provides implications for investors to protect their wealth, and for policymakers to ensure sustainability of tourism industry in the pandemic outbreak and in the future.

From the perspective of corporate finance, this paper empirically quantifies the early effect of COVID-19 on tourism industry for a quick snapshot.