The synonym of international tourism in the world is a generator that produces a significant number of jobs and a generator that generates a large part of the world's income, generates goods and services directly and indirectly, attracts foreign currency and provides the possibility of foreign investments. Over the past few years, there has been a steady increase in international tourism, but the reduction of this increase is also due to the impact of various external shocks. Volatility, according to many authors, is described as an unpredictable measure of the intensity of variations. These variations are associated with unpredictable crisis situations, i.e. events commonly called 'new shocks' such as terrorism, epidemics, natural disasters, exchange rate volatility, oil price, political (in)stability, wars and various crimes. Such global events have a profound impact on a wide range of political, legal and social regulations around the world. This phenomenon could explain how tourism is very vulnerable in countries affected by external or internal shocks. These independent variables in destinations change the characteristics of tourism at the level of the destination and the world, thus affecting the tourist demand but above all on the economic situation of the country. An analysis of the main factors affecting the number of arrivals as well as the number of overnight stays of tourists in selected countries of the world and evidently too much dependence on tourism, which is very sensitive to external shocks, is not desirable. Despite the obvious economic benefits it brings, tourism is prone to internal and external shocks leading to a decline in activity. The intensity and duration will depend on the actual and perceived preparedness of the affected countries and the ability to convince that these countries are safe destinations. Knowledge of the factors affecting tourist demand is necessarily necessary for all countries, especially those whose share of tourism in GDP is extremely high. Such information may be useful for macroeconomic analysis and forecasting. The objectives of the work are highlighted through the attitude defined by it and quantifying variables, and which can affect the tourism of today: terrorism, health issues, natural disasters, wars, political (in)stability, exchange rate volatility, oil price, migration. Furthermore, determining the level of volatility of tourism to external shocks and pointing out the importance of monitoring phenomena affecting tourism volatility. To proving the hypotheses set, a panel analysis method was also used, which simultaneously analyses both the temporal and spatial component of the given phenomena. Panel data reduces the bias of parameters that occur due to data deficiencies. This method allows you to control variables that cannot be measured, that is, variables that change over time. Contributions of work to economic sciences in theoretical terms are determined in the systematization and theoretical definition of tourist movements and external shocks terrorist attack, natural disasters, health issues, political instability, exchange rate volatility, oil price, war, and migration. The contribution is also determined in the analysis and systematization of the importance of the impact of external shocks on tourism and affirmation and development of knowledge about the importance and understanding of their interrelationship. Furthermore, the contribution of the paper rests in the development and affirmation of scientific knowledge on the analysis and evaluation of the impact of external shocks on tourism and tourism developments, and in the development and development and implementation of the econometric model of panel analysis, which can significantly assess the susceptibility of tourism to external shocks and provide answers to research questions. Ultimately, the scientific contribution is the quantification of the impact of external shocks on tourism as well as the identification of the direction of causation between tourism and external shocks.