THE IMPACT OF COVID-19 ON THE TOURISM SECTOR IN BOSNIA AND HERZEGOVINA

In this study, we examine the degree of persistence in tourism in Bosnia and Herzegovina and the impact that the COVID-19 pandemic has had on it. The series investigated are foreign arrivals and overnight stays for the time period from January 2008 to December 2021. The methodology used is based on fractional integration. The results indicate that the impact of COVID-19 has been strong on the series, removing the significance of the time trend, increasing the level of persistence and reducing significantly the seasonality factor in both arrivals and overnight stay series.