MEASURING INCOME AND PRICE ELASTICITY OF TURKISH TOURISM SECTOR

Abstract

Tourism has been one of the promising industries of Turkish economy with its huge potential for generating foreign exchange, improving balance of payment, and providing employment opportunities. This research aims to present empirical evidence on income and demand elasticities of international tourism demand for Turkey. Arellano – Bond Dynamic panel estimation procedure is employed to estimate demand function of Turkish tourism by considering 20 major clients, accounting for more than 80% of tourism inflows. Empirical findings suggest that there exists important word of mouth effect. On the other hand, both income and price elasticity of demand for Turkish tourism in the short run are low, in the long run however, income elasticity increases whereas price elasticity of demand remains low

Keywords

• Tourism Demand, Elasticity, Dynamic Modelling, Panel Data, Turkey

TÜRKİYE’DE TURİZM SEKTÖRÜNÜN TALEP VE GELİR ESNEKLİKLERİNİN ÖLÇÜMÜ

Abstract

Turizm sektörü, yüksek döviz kazandırma potansiyeli, dış ticaret dengesinin kurulmasına yardımcı rolü ve sunduğu istihdam fırsatları bakımlarından Türkiye ekonomisi için büyük önem taşımaktadır. Bu çalışmanın amacı Türkiye turizmine olan uluslararası talebin gelir ve talep esnekliklerine ilişkin ampirik bulgular sunmaktır. Çalışmada Arellano – Bond dinamik panel tahmin yöntemi kullanılarak, Türkiye’den en fazla turizm hizmeti talep eden ve toplamda Türkiye’yi ziyaret eden turist sayısının %80’inden fazlasını oluşturan 20 ülke incelenmiştir. Elde edilen bulgular Türk turizminde kulaktan kulağa pazarlama faaliyetlerinin önemli etkisi olduğunu işaret etmektedir (repütasyon etkisi). Ayrıca, hem gelir hem de fiyat esneklikleri kısa vadede oldukça düşük olduğu, gelir esnekliği uzun vadede artarken, talep esnekliğinin düşük kaldığı gözlenmiştir

Keywords

• Turizm Talebi, Esneklik, Dinamik Modelleme, Panel Veri, Türkiye

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