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Economic Effects of Tourism: A Case of The Mediterranean Countries

Year 2019, Volume: 21 Issue: 4, 1308 - 1315, 30.12.2019
https://doi.org/10.32709/akusosbil.525743

Abstract

Tourism
is one of the largest and fastest growing sectors of the global economy. With
its contributions to employment, income level, foreign payment balance, regional
development etc., tourism has an important place within the overall economy of
countries. Mediterranean countries are one of the most popular tourist
destinations in the world. The share of tourism sector in the economic growth
and development of these countries which are at the forefront in terms of
tourism income and the number of international tourists is among the issues
that need to be investigated. The aim of this study is to examine the
relationship between tourism revenues, international tourist arrivals and
economic growth, using data from 7 Mediterranean countries 1995-2017. As
discussed in the analysis of panel data regression model, the random effects
model was found to be suitable. The model developed against deviations from
assumptions, has been estimated by Arellano, Froot ve Rogers robust standard
estimator. The results indicate that there is a positive relationship between
tourism and economic growth in 7 Mediterranean countries. In this context that
a %1 increase in number of international tourists gives way to a %0,09 increase
in economic growth and %1 increase in tourism revenues gives way to a
%0,07 increase in economic growth.

References

  • Arellano, M. (1987). Practitioners Corner: Computing Robust Standard Errors for Within-groups Estimators, Oxford Bulletin of Economics and Statistics, 49(4): 431-434.
  • Balaguer, J. and Cantavella-Jordá, M. (2002), Tourism as a long-run economic growth factor: The Spanish case, Applied Economics, 34(7): 877–884.
  • Bhargava, A., Franzini, L., and Narendranathan, W. (1982), Serial Correlation and the Fixed Effects Model. The Review of Economic Studies, 49(4): 533-549.
  • Brown, M., B. and Forsythe, A., B. (1974), Robust Tests for the Equality of Variances, Journal of the American Statistical Association, 69(346): 364-367.
  • Dritsakis, N. (2004). Tourism as A Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis, Tourism Economics, 10(3): 305–316.
  • Froot, K., A. (1989). Consistent Covariance Matrix Estimation with Cross-Sectional Dependence and Heteroskedasticity in Financial Data, The Journal of Financial and Quantitative Analysis, 24(3): 333-355.
  • Gökovalı, U. ve Bahar, O. (2006). Contribution of Tourism to Economic Growth in Mediterrranean Countries: A Panel Data Approach, Anatolia An International Journal of Tourism and Hospitality Research, 17(2): 155–168.
  • Gunduz, L., and Hatemi-J, A. (2005). Is the Tourism-Led Growth Hypothesis Valid for Turkey?
  • Applied Economics Letters, 12(8): 499–504.
  • Hausman, J., A., (1978). Specification Tests in Econometrics, Econometrica, 46(6): 1251-1271.
  • Ongan S, Demiroz D., M. (2005). The Contribution of Tourism to the Long-run Turkish Economic Growth. Ekonomicky Casopis [Journal of Economics], 53: 880–894.
  • Proença, S. and Soukiazi, E. (2008). Tourism as an Economic Growth Factor: A Case Study for
  • Southern European Countries, Tourism Economics, 14(4): 791–806.
  • Rogers, W., H. (1993). Regression Standard Errors in Clustered Samples, Stata Technical Bulletin, (13): 19-23.
  • Tatoğlu, F., Y., (2016). Panel Veri Ekonometrisi Stata Uygulamalı, Beta Yayınevi.
  • Torres-Reyna, O. (2007). Panel Data Analysis Fixed and Random Effects Using Stata, Data and Statistical Services, Princeton University.
  • World Tourism Organization (2018). UNWTO Tourism Highlights, 2018 Edition, UNWTO, Madrid.

Turizmin Ekonomik Etkileri: Akdeniz Ülkeleri Örneği

Year 2019, Volume: 21 Issue: 4, 1308 - 1315, 30.12.2019
https://doi.org/10.32709/akusosbil.525743

Abstract

Turizm küresel ekonominin en büyük ve en hızlı büyüyen sektörlerinden
birisidir. Turizm istihdam, gelir, dış ödemeler dengesi ve bölgesel kalkınma
gibi konularda sağladığı katkılarla ülke ekonomilerinde önemli bir yere
sahiptir. Sektör ekonomik etkilerinin yanında sosyal ve kültürel etkileri ile
de önemli bir yer tutmaktadır.  Akdeniz
ülkeleri dünyanın en çok turist çeken ve turizm geliri elde eden bölgelerin
başında gelmektedir. Turizm geliri ve uluslararası turist sayısı açısından ön
sıralarda yer alan bu ülkelerin ekonomik büyümeleri ve kalkınmasında turizm
sektörünün payı araştırılması gereken konuların başında gelmektedir. Bu
çalışmanın amacı, 1995-2017 döneminde 7 Akdeniz ülkesinin turizm gelirleri,
uluslararası turist sayısı ve ekonomik büyüme arasındaki ilişkileri
araştırmaktır. Panel veri regresyon modellerinin ele alındığı analizde,
tesadüfi etkiler modelinin uygun olduğu görülmüştür. Model, varsayımlardan
sapmalara karşı geliştirilen Arellano, Froot ve Rogers dirençli standart
tahmincileriyle tahmin edilmiştir. Sonuçlar, 7 Akdeniz ülkesinde turizm ile
ekonomik büyüme arasında pozitif bir ilişki olduğunu göstermektedir. Buna göre,
uluslararası turist sayısındaki %1’lik bir artış ekonomik büyümeyi %0,09
oranında artırırken, turizm gelirlerindeki %1’lik bir artış ekonomik büyümeyi
%0,07 artırmaktadır.

References

  • Arellano, M. (1987). Practitioners Corner: Computing Robust Standard Errors for Within-groups Estimators, Oxford Bulletin of Economics and Statistics, 49(4): 431-434.
  • Balaguer, J. and Cantavella-Jordá, M. (2002), Tourism as a long-run economic growth factor: The Spanish case, Applied Economics, 34(7): 877–884.
  • Bhargava, A., Franzini, L., and Narendranathan, W. (1982), Serial Correlation and the Fixed Effects Model. The Review of Economic Studies, 49(4): 533-549.
  • Brown, M., B. and Forsythe, A., B. (1974), Robust Tests for the Equality of Variances, Journal of the American Statistical Association, 69(346): 364-367.
  • Dritsakis, N. (2004). Tourism as A Long-Run Economic Growth Factor: An Empirical Investigation for Greece Using Causality Analysis, Tourism Economics, 10(3): 305–316.
  • Froot, K., A. (1989). Consistent Covariance Matrix Estimation with Cross-Sectional Dependence and Heteroskedasticity in Financial Data, The Journal of Financial and Quantitative Analysis, 24(3): 333-355.
  • Gökovalı, U. ve Bahar, O. (2006). Contribution of Tourism to Economic Growth in Mediterrranean Countries: A Panel Data Approach, Anatolia An International Journal of Tourism and Hospitality Research, 17(2): 155–168.
  • Gunduz, L., and Hatemi-J, A. (2005). Is the Tourism-Led Growth Hypothesis Valid for Turkey?
  • Applied Economics Letters, 12(8): 499–504.
  • Hausman, J., A., (1978). Specification Tests in Econometrics, Econometrica, 46(6): 1251-1271.
  • Ongan S, Demiroz D., M. (2005). The Contribution of Tourism to the Long-run Turkish Economic Growth. Ekonomicky Casopis [Journal of Economics], 53: 880–894.
  • Proença, S. and Soukiazi, E. (2008). Tourism as an Economic Growth Factor: A Case Study for
  • Southern European Countries, Tourism Economics, 14(4): 791–806.
  • Rogers, W., H. (1993). Regression Standard Errors in Clustered Samples, Stata Technical Bulletin, (13): 19-23.
  • Tatoğlu, F., Y., (2016). Panel Veri Ekonometrisi Stata Uygulamalı, Beta Yayınevi.
  • Torres-Reyna, O. (2007). Panel Data Analysis Fixed and Random Effects Using Stata, Data and Statistical Services, Princeton University.
  • World Tourism Organization (2018). UNWTO Tourism Highlights, 2018 Edition, UNWTO, Madrid.
There are 17 citations in total.

Details

Primary Language Turkish
Journal Section Public Relations - Communication
Authors

Hasan Önder Sarıdoğan 0000-0002-6463-4681

Publication Date December 30, 2019
Submission Date February 11, 2019
Published in Issue Year 2019 Volume: 21 Issue: 4

Cite

APA Sarıdoğan, H. Ö. (2019). Turizmin Ekonomik Etkileri: Akdeniz Ülkeleri Örneği. Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi, 21(4), 1308-1315. https://doi.org/10.32709/akusosbil.525743

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