| Summary: | The vulnerability of tourism industry attributed to uncertainties, that is politi- cal turmoils, geopolitical risks and economic instabilities is significant and thus the implementation of successful and effective policies in the field of tourism cri- sis management are required. This dissertation investigates the impact of eco- nomic, political and geopolitical instability on Greek inbound tourism between 2008-2020. Tourist arrivals from eleven tourism origin countries collected by the monthly Travel Receipts Survey from the Bank of Greece are considered. The explanatory variables consist of Economic Policy Uncertainty Index, Real GDP per capita growth and Inflation of Greece and tourism origin countries, as well as of Geopolitical Risk Index of Turkey, Saudi Arabia and Israel as neighboring countries that may affect Greek tourism product. Overall, the empirical findings show that tourist arrivals decline with economic uncertainty and geopolitical risk of Israel and Saudi Arabia. By contrast, tourism industry in Greece grows with GDP per capita growth, differences in inflation and geopolitical risk of Turkey.
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