Turkish tourism has developed as more dependent on the international tourism demand until the 2000s. However, it has gained more stable and more balanced structure with the effect of increase in demand of domestic tourism in the early 21st century. In recent years, despite of the global crisis, the growth rate of the domestic and international tourism expenditure is well above the growth rate of the economy in Turkey. In this study, the effect of the global crisis on Turkish tourism demand has been investigated. The study has focused on factors such as "inflation", "currency" and "interest rates", which may affect Turkish tourism during the global financial crisis. In this way, the effects of the crisis on tourism demand are explained more clearly. The results show occurrence of a significant slowdown in the Turkish foreign active tourism during the global crisis. This deceleration was independent of the inflation and exchange rate effect. Furthermore, it was merely caused by the global crisis. Though, the domestic and overseas travels were increased in Turkey despite of the crisis during the period 2008-2013. Decreasing interest rates played a major role in this increase. Thus, the effect of interest rate on tourist spending can be accepted as a strong influential factor. The study has two important aspects. First, the contractionary effects of the global crisis on the tourism demand are to be determined by taking into account the possible effects of economic variables such as currency, inflation, interest rates, etc. Secondly, this study has a visionary approach, which is an evaluation of the global economic crisis as an opportunity. Besides, it also indicated the effect of the specified variables on tourism demand.
| Published in |
Journal of World Economic Research (Volume 3, Issue 6-1)
This article belongs to the Special Issue Issues and Challenges of the Financial and Economic Crisis Throughout the World |
| DOI | 10.11648/j.jwer.s.2014030601.14 |
| Page(s) | 22-32 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Tourism Demand, Crisis, Growth, Interest, Inflation and Currency
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APA Style
Kudret Gul, Nuran Aksit Asik, Ali Kemal Gurbuz. (2015). The Effect of Global Economic Crisis on Turkish Tourism Demand and a Review for the Period 2003-2013. Journal of World Economic Research, 3(6-1), 22-32. https://doi.org/10.11648/j.jwer.s.2014030601.14
ACS Style
Kudret Gul; Nuran Aksit Asik; Ali Kemal Gurbuz. The Effect of Global Economic Crisis on Turkish Tourism Demand and a Review for the Period 2003-2013. J. World Econ. Res. 2015, 3(6-1), 22-32. doi: 10.11648/j.jwer.s.2014030601.14
AMA Style
Kudret Gul, Nuran Aksit Asik, Ali Kemal Gurbuz. The Effect of Global Economic Crisis on Turkish Tourism Demand and a Review for the Period 2003-2013. J World Econ Res. 2015;3(6-1):22-32. doi: 10.11648/j.jwer.s.2014030601.14
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Download@article{10.11648/j.jwer.s.2014030601.14,
author = {Kudret Gul and Nuran Aksit Asik and Ali Kemal Gurbuz},
title = {The Effect of Global Economic Crisis on Turkish Tourism Demand and a Review for the Period 2003-2013},
journal = {Journal of World Economic Research},
volume = {3},
number = {6-1},
pages = {22-32},
doi = {10.11648/j.jwer.s.2014030601.14},
url = {https://doi.org/10.11648/j.jwer.s.2014030601.14},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.s.2014030601.14},
abstract = {Turkish tourism has developed as more dependent on the international tourism demand until the 2000s. However, it has gained more stable and more balanced structure with the effect of increase in demand of domestic tourism in the early 21st century. In recent years, despite of the global crisis, the growth rate of the domestic and international tourism expenditure is well above the growth rate of the economy in Turkey. In this study, the effect of the global crisis on Turkish tourism demand has been investigated. The study has focused on factors such as "inflation", "currency" and "interest rates", which may affect Turkish tourism during the global financial crisis. In this way, the effects of the crisis on tourism demand are explained more clearly. The results show occurrence of a significant slowdown in the Turkish foreign active tourism during the global crisis. This deceleration was independent of the inflation and exchange rate effect. Furthermore, it was merely caused by the global crisis. Though, the domestic and overseas travels were increased in Turkey despite of the crisis during the period 2008-2013. Decreasing interest rates played a major role in this increase. Thus, the effect of interest rate on tourist spending can be accepted as a strong influential factor. The study has two important aspects. First, the contractionary effects of the global crisis on the tourism demand are to be determined by taking into account the possible effects of economic variables such as currency, inflation, interest rates, etc. Secondly, this study has a visionary approach, which is an evaluation of the global economic crisis as an opportunity. Besides, it also indicated the effect of the specified variables on tourism demand.},
year = {2015}
}
TY - JOUR T1 - The Effect of Global Economic Crisis on Turkish Tourism Demand and a Review for the Period 2003-2013 AU - Kudret Gul AU - Nuran Aksit Asik AU - Ali Kemal Gurbuz Y1 - 2015/01/27 PY - 2015 N1 - https://doi.org/10.11648/j.jwer.s.2014030601.14 DO - 10.11648/j.jwer.s.2014030601.14 T2 - Journal of World Economic Research JF - Journal of World Economic Research JO - Journal of World Economic Research SP - 22 EP - 32 PB - Science Publishing Group SN - 2328-7748 UR - https://doi.org/10.11648/j.jwer.s.2014030601.14 AB - Turkish tourism has developed as more dependent on the international tourism demand until the 2000s. However, it has gained more stable and more balanced structure with the effect of increase in demand of domestic tourism in the early 21st century. In recent years, despite of the global crisis, the growth rate of the domestic and international tourism expenditure is well above the growth rate of the economy in Turkey. In this study, the effect of the global crisis on Turkish tourism demand has been investigated. The study has focused on factors such as "inflation", "currency" and "interest rates", which may affect Turkish tourism during the global financial crisis. In this way, the effects of the crisis on tourism demand are explained more clearly. The results show occurrence of a significant slowdown in the Turkish foreign active tourism during the global crisis. This deceleration was independent of the inflation and exchange rate effect. Furthermore, it was merely caused by the global crisis. Though, the domestic and overseas travels were increased in Turkey despite of the crisis during the period 2008-2013. Decreasing interest rates played a major role in this increase. Thus, the effect of interest rate on tourist spending can be accepted as a strong influential factor. The study has two important aspects. First, the contractionary effects of the global crisis on the tourism demand are to be determined by taking into account the possible effects of economic variables such as currency, inflation, interest rates, etc. Secondly, this study has a visionary approach, which is an evaluation of the global economic crisis as an opportunity. Besides, it also indicated the effect of the specified variables on tourism demand. VL - 3 IS - 6-1 ER -
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