Investigation of the impact of the pandemic on the hot air balloon industry in Cappadocia

The Cappadocia region, which is unique in the world with its natural and cultural beauties, is one of the leading tourism regions of our country. In addition to the region's unique historical features and natural beauties, it has become the focal point of both domestic and international tourism due to its cultural activities and ease of transportation. The observation of the Cappadocia region, which is on the UNESCO World Heritage List due to its many features such as fairy chimneys, valleys, streams, historical rock houses and churches, by air balloon has made the region the most important hot air balloon flight center of our country. The global corona virus (Covid-19), which started in 2020, has become an epidemic that affects the whole world. The Covid-19 epidemic has adversely affected many sectors, especially the aviation and tourism sector. As the flights stopped with the pandemic, one of the most affected sectors has been the hot air balloon sector in Cappadocia. The aim of this study is to examine the effects of the pandemic on the hot air balloon industry in Cappadocia from an economic point of view. For this purpose, cointegration and causality analysis methods were used by using daily data between August 2020-March 2022. In the study, balloon flight data in the region obtained from the Cappadocia Slot Service Center and the data of the people affected by the pandemic obtained from the T C Ministry of Health were used. Looking at the long-term relationship, it was seen that the number of people who died and the number of people who recovered affect the number of flights. It has been determined that the increase in the death rate causes people to move away from the flight. A significant relationship was also found between the variables in the short-term relationship. As a result of the study, it was determined that the number of dead and sick people affected the flights negatively, and the number of people who recovered had a positive effect on the flights.