The Role of Credit as a Financial Tool on Financing Touristic Consumption and Application in Turkey

Abstract

Turkish tourism has managed to be able to enter the top 10 countries in the world tourism with the fastest growth rate in recent years. One of the main factors of this rapid growth in tourism industry is quantitative and qualitative increase in the tourism demand. Turkish tourism has grown depending on international tourism until the 2000s, but in recent years, the effect of increase in domestic tourism demand has helped more stable and balanced structure to Turkish tourism. With the increase in personal income and economic stability in recent years, banking and finance system has a big impact on the increase in domestic tourism demand. Revision of the financial system in Turkey, the measures taken for the protection of consumers, contribution of financial institutions to funding touristic consumers, are playing an important role in these developments. In our study, the effect of the Turkey’s financial system on touristic consumption is investigated in the light of these developments. The study was performed by descriptive method for determining existing situation in Turkey.