The effect of the COVID-19 pandemic on the financial performance of tourism enterprises: A study in BIST

This study aimed to investigate the impact of the Covid-19 epidemic on the financial performance of businesses included in the BIST tourism index. In this regard, the annual data of the companies traded in the BIST tourism index, announced on KAP, were used. In order to more clearly explain the impact of Covid-19 on financial performance, the years 2019, 2020 and 2021 were included in the scope of analysis. Within the scope of the study, financial performance indicators were determined using financial ratios. The financial performances of the companies were ranked using the TOSPIS and VIKOR methods, which are among the Multi-Criteria Decision Making Methods. In the results of working; similar results were obtained in both methods. In both methods, similar results were obtained for companies with the highest and lowest performance rankings. On the other hand, as a result of the analysis, the company that had the best ranking just before Covid-19 in both methods had a low performance ranking after Covid-19. This has emerged as evidence that Covid-19 negatively affects the financial performance of tourism companies.