Abstract
Coronavirus (COVID-19) pandemic has affected all economic processes as well as the tourism industry and service exports. COVID-19 pandemic affects negatively not only in the production and manufacturing industry, but also has caused important problems in the service and tourism sector. The paper aims to determine the effects of tourism revenues, international tourist arrivals and COVID-19 pandemic on service exports and the tourism industry. In line with the results, there is a long-term relationship among tourism revenues, international tourist arrivals, exchange rates, and service exports. According to FMOLS and DOLS results, an increase in the tourism revenues, international tourist arrivals and exchange rates ensure raising service exports of Turkey. However, it is determined that COVID-19 pandemic lead to decreasing service exports of Turkey. In addition, Granger causality analysis revealed that there is a unidirectional causality relationship from exchange rates to international tourist arrivals in Turkey. On the other hand, it is determined that there are bidirectional causality relationships between tourism revenues and service exports, international tourist arrivals and service exports, international tourist arrivals and tourism revenues. Results of the analysis indicate that service exports of Turkey follows a rising trend and it can be reduced the effects of COVID-19 pandemic when development of tourism infrastructure and quality raises.
Highlights
Tourism can be defined as the spatial separation between home and distant place and travel between these two places in its simplest definition (Holden, 2006, p. 11)
This study aims to determine the effects of tourism revenues, international tourist arrivals and COVID-19 pandemic on service exports and the tourism industry and to contribute empirically to the literature
The findings show that COVID-19 pandemic has negative impacts on service exports, and preventive policies should be produced in order to overcome this crisis in the tourism sector
Summary
Tourism can be defined as the spatial separation between home and distant place and travel between these two places in its simplest definition (Holden, 2006, p. 11). Individuals decide on their destination and the types of services that they will benefit from in line with their own preferences and expectations They shape the tourism supply in the regions over time. Tourism revenues are important for national income and they have a multiplier effect on the national economy. The tourism industry ensures the interaction of different cultures. For this reason, cultural institutions and consumption habits of the countries change via the effect of international tourism. Cultural institutions and consumption habits of the countries change via the effect of international tourism These differences provide an increase in entrepreneurial activities in tourism and bring new investments in entrepreneurial activities that gain positive acceleration. The tourism industry affects the development of many sectors directly or indirectly (Kitson, Martin, & Tyler, 2004)
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