Research Article

The causal relationship of tourism development, economic growth, and firm performance: An analysis of the food and beverage industry

Volume: 4 Number: 2 December 31, 2022
Mehmet Oğuzhan İlban , Mehmet Tahsin Liceli *
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The causal relationship of tourism development, economic growth, and firm performance: An analysis of the food and beverage industry

Abstract

The main purpose of the study is to determine the relationship between tourism growth, economic growth, and firm performance. Within the scope of the study, the quarterly dataset over the period 2009-2020 was used. The study was conducted for the FBI, which is the second largest sub-sector of the tourism industry. Within the scope of the study, return on assets (ROA) and return on equity (ROE) are used as firm performance indicators, gross domestic product (GDP) as the economic growth indicator, whereas the number of tourist arrivals (NTA) and tourism expenditure (TEX) variables as tourism growth indicators. In line with the purpose of the study, the Toda-Yamamoto Causality Test was performed in the analysis part. According to the analysis results, it was determined that a significant relationship existed between tourism growth and firm performance, as well as between economic growth and firm performance. Consequently, it was possible to claim that tourism growth and economic growth had a significant impact on firm performance.

Keywords

Causality Analysis , Economic Growth , Food and Beverage Sector , Tourism Growth

References

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  5. Chen, M. H. (2010). The economy, tourism growth and corporate performance in the Taiwanese hotel industry. Tourism Management, 31(5), 665-675.
  6. Çoban, B., Firuzan, E. ve Oğuzhan, A. (2018). Farklı Varyanslık ve Yapısal Kırılmalar Altında Ekonomik Büyüme İle Turizm İlişkisinin İncelenmesi. Trakya Üniversitesi Sosyal Bilimler Dergisi, 20 (1), 319-337.
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Details

Primary Language

English

Subjects

Tourism (Other)

Journal Section

Research Article

Authors

Publication Date

December 31, 2022

Submission Date

September 12, 2022

Acceptance Date

September 21, 2022

Published in Issue

Year 2022 Volume: 4 Number: 2

DOI

https://doi.org/10.48119/toleho.1173937

IZ

https://izlik.org/JA47BT87LB

Cite

RIS / Bibtex
APA
İlban, M. O., & Liceli, M. T. (2022). The causal relationship of tourism development, economic growth, and firm performance: An analysis of the food and beverage industry. Journal of Tourism Leisure and Hospitality, 4(2), 3-3. https://doi.org/10.48119/toleho.1173937

Cited By

Investigating Italian food tourism via finite mixture models: revenue generation and sustainability strategies

Journal of Sustainable Tourism

https://doi.org/10.1080/09669582.2025.2606837

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