Pang B.Liu X.Xiao L.Mahidol University2025-11-192025-11-192025-01-01Journal of Policy Research in Tourism Leisure and Events (2025)19407963https://repository.li.mahidol.ac.th/handle/123456789/113127This study uses the visa exemption policy launched in September 2023 as the intervention point and employs an event study approach under small-sample conditions to dynamically evaluate its impact on Chinese tourist arrivals to Thailand and Thailand’s tourism economy. The findings indicate that the visa-free policy generated a short-term positive effect on both the number of Chinese tourists and tourism revenue during the initial stage of implementation, but the effect weakened over time. By incorporating CRV3-adjusted standard errors and robust testing procedures, the study enhances the credibility of its inferences and offers empirical insights into policy shocks under small-sample conditions.Business, Management and AccountingSocial SciencesArticleSCOPUS10.1080/19407963.2025.25795572-s2.0-10502145036819407971