Analysis of the contribution of Turkey's tourism revenues to the balance of payments: An empiric application between 2000-2019

Tourism, which constitutes 1/10 of the total income in the world, is of great importance for developed and developing countries with its foreign exchange provider effect. The foreign currency through brought by the sector is first seen on the foreign active and foreign passive tourism movements in the balance of payments. In particular, countries such as Turkey, which constantly have foreign trade deficit, need active foreign tourism movements to finance this deficit. For this reason, in the study, the contribution of foreign tourism revenues to the balance of payments was determined in the last 20 years of Turkey between 2000 and 2019. In addition, ways to increase the most needed capital, called tourism revenues, on the balance of payments were also investigated. According to the analysis results, the main way to increase tourism revenues; To increase the average expenditure of tourists visiting Turkey. For this reason, the variables affecting the average expenditure amount of tourists coming to Turkey in the last 18 years between 2002 and 2019 were investigated in the study. In the years in question; The variables of "real effective exchange rate, the amount of national product per capita in Germany, which sends the most tourists to Turkey, the average number of overnight stays, the total number of tourists and tourist bed capacity" are included in the analysis. In the study, a single equation econometric model is established based on general data of dependent and independent variables. Least Squares method was used for model estimation. As a result of the study, it was determined that the real effective exchange rate and the index of national product per capita in Germany affect the average expenditure per capita in Turkey. According to the findings of the study, as a result of 1 unit increase in real effective exchange rate, average expenditure per person increases by 3 units. In addition, the 1000 unit increase in the German GDP per capita index decreases the average expenditure per capita by 3.8 units.