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Effects of Real Exchange Rate Volatility on Tourism Receipts and Expenditures in Turkey

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  • Cüneyt Kılıç
  • Yılmaz Bayar

Abstract

The tourism industry has expanded worldwide over recent decades to become an important global business sector. The Turkish tourism sector has followed this trend, and Turkey is now a major global tourist destination. We examined the relationship between real effective exchange rate volatility and tourism receipts and expenditures in Turkey during the period from 1994:01 to 2013:08. Volatility in the real effective exchange rate was obtained with a generalised autoregressive conditional heteroscedasticity (1,1) model. The long-term relationship between the series was determined by the Johansen cointegration test, and the direction of this relationship was determined using pairwise Granger causality. Our empirical results indicate that there is a positive long-term relationship between the real effective exchange rate and tourism receipts and expenditures.

Suggested Citation

  • Cüneyt Kılıç & Yılmaz Bayar, 2014. "Effects of Real Exchange Rate Volatility on Tourism Receipts and Expenditures in Turkey," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 4(1), pages 1-5.
    • Handle: RePEc:spt:admaec:v:4:y:2014:i:1:f:4_1_5
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    Cited by:

    1. Martins, Luís Filipe & Gan, Yi & Ferreira-Lopes, Alexandra, 2017. "An empirical analysis of the influence of macroeconomic determinants on World tourism demand," Tourism Management, Elsevier, vol. 61(C), pages 248-260.
    2. Sangram Keshari JENA & Aruna Kumar DASH, 2020. "Does Exchange Rate Volatility Affect Tourist Arrival In India: A Quantile Regression Approach," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 20(2), pages 65-78.
    3. Wen-Chuan FU & Chia-Jui PENG & Tzu-Yi YANG, 2020. "Influence of Tourism on Economic Development in Asian Countries," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 5(2), pages 207-216, December.
    4. Ferhat Citak, 2018. "Exchange Rate and Turkish Tourism Trade," International Journal of Economics and Financial Issues, Econjournals, vol. 8(4), pages 206-213.
    5. Gulsum Akarsu, 2023. "Interrelationships between Tourist Arrivals, Exchange Rate, Inflation, and Economic Growth: Empirical Evidence for Turkiye," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 9(1), pages 49-76, June.

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