The Relationship Between Destination Competitiveness and Foreign Direct Investments: Panel Data Analysis

Abstract

One of the important competition issues between countries is to get a share from world tourism at a higher rate and to benefit from tourism investments at the maximum level. In this study, it is aimed to determine how effective the competitive forces of countries in the field of tourism are in attracting foreign investment within the framework of Dunning's OLI paradigm. In order to determine the competitiveness of a country in the field of tourism, the 4 main criteria of the "Tourism and Travel Competitiveness Index (TTCI)" created by the World Economic Forum were considered as location-specific factors conceptualized within the OLI paradigm and independent variables were determined. Direct foreign capital investments that are the dependent variable of the present study were extracted from the UNCTAD database. Data covering 8 years and 114 countries were tested using panel regression analysis. The findings reveal that the infrastructure and natural and cultural resources variables of destination competitiveness have significant and positive effects on FDI inflows.

Keywords

• Destination Competitiveness
• Foreign Direct Investments (FDI)
• World Economic Forum Travel and Tourism Competitiveness Index (TTCI)
• Panel Data Analysis.

Destinasyon Rekabetçiliği ile Doğrudan Yabancı Yatırımlar Arasındaki İlişki: Panel Veri Analizi

Abstract

Ülkeler arasındaki önemli rekabet konularından birisi dünya turizminden daha yüksek oranda pay almak ve turizm yatırımlarından azami düzeyde faydalanmaktır. Bu çalışmada ülkelerin turizm alanındaki rekabetçi güçlerinin, yabancı yatırım çekme konusunda ne derece etkili olduğunun Dunning’in OLI paradigması çerçevesinde tespiti amaçlanmıştır. Bir ülkenin turizm alanındaki rekabet gücünü belirlemek için Dünya Ekonomik Forumu tarafından oluşturulan “Turizm ve Seyahat Rekabetçilik Endeksi (TSRE)”nin 4 ana kriteri (Çevresel Faktörler, Turizm Politikalarının ve Koşullarının Etkinleştirilmesi, Altyapı, Doğal ve Kültürel Kaynaklar), OLI paradigması kapsamında kavramsallaştırılan lokasyona özgü faktörler olarak ele alınarak bağımsız değişkenler belirlenmiştir. Bağımlı değişken olarak belirlenen doğrudan yabancı yatırımlar (DYY) verilerine ise UNCTAD veri tabanı kullanılarak erişilmiştir. 8 yıl ve 114 ülkeyi kapsayan zaman uzanımlı veriler panel regresyon analizi kullanılarak test edilmiştir. Elde edilen bulgular, destinasyon rekabetçiliğinin altyapı ile doğal ve kültürel kaynaklar değişkenlerinin DYY girişleri üzerinde anlamlı ve pozitif yönlü etkilere sahip olduğunu ortaya koymaktadır.

Keywords

• Destinasyon Rekabetçiliği
• Doğrudan Yabancı Yatırımlar (DYY)
• Dünya Ekonomik Forumu Turizm ve Seyahat Rekabetçilik Endeksi (TSRE)
• Panel Veri Analizi

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