Introduction
The main purpose of this study is to analyze whether there exists a causal relationship between tourism and economic growth on Turkey between the years 2004-2015. Obviously, these effects will vary from one country to another according to a wide set of circumstances, such as natural resource, culture and socio-economic environment of tourism destinations (Pao, 2004).
Tourism and Economic Growth
Economic growth is one of the crucial factors needed for a country’s development. In its broadest sense, economic growth often points to a rise in GDP. We will omit the HDI and other factors for the sake of convenience of conducting this study. There are three major reasons that lie behind the importance of economic growth such as increase
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The reason of specifically choosing Turkey has its source in conflicts Turkey had with Russia, which affected negatively the tourism sector since the majority of foreign visitors are from Russia. The reason of choosing to examine the effect of tourism instead of other sectors is that Turkey is renown with its convenient geographical position, rich culture and history, and most importantly is available for touristic visits at any season of the year, which implies that Turkey has much more than just touristic places available in summer. The variety of Turkey’s historical sites and the seaside resorts along its Aegean and Mediterranean Sea costs has made it a popular touristic destination. In the article “42 million tourists visit Turkey in 2014” (2015) it was reported that in 2014, Turkey attracted around 42 million foreign tourists, ranking as the 6th most popular tourist destination in the world. According to “The Guardian”(2016) Turkey faced a deterioration to around 25 million in 2016 and then further in 2017 due to the 2016-17 purges in Turkey, terrorist attacks etc. However, a recovery began in 2017, when then the number of foreign visitors increased to 32 million. The time period between 2000-2005 is important for Turkey because there was a remarkable increase in foreign tourist arrivals from 8 million to 21.2 million in turn making Turkey a top-10 destination place in the world for foreign visitors. Among natural resources and its rich history and culture; warm-hearted and welcoming Turkish citizens and business owners make Turkey a more attractive place to be visited. Just after arriving to Turkey, most of the visitors end up being Turkish food, history, and culture lovers. Combining all of the above mentioned reasons, tourism undoubtedly plays a very important role for Turkey. Since tourism plays such an important role for Turkish economy, the ultimate aim of this
The economic growth at the first stage is increase from 2.16% in year 1996 to 3.37% in year 1997. But GDP drops significantly to 0.04% in year 1998. In year 1999, the GDP growth slightly to 0.25% and continues increase dramatically to 4.30% in year 2000. The GDP decreases sharply from 4.30% to 1.32%in year 2001. After that, the turning back of economic growth increases to 2.65% in year 2002.
Growth in agricultural, industrial production and economic
Tourism has become one of the important economic factor for any nation today. With the increase in technology, the world is gradually changing and becoming closer and smaller day by day. The country known for its advanced technology, Japan is popular in terms of travel, commerce, technology, cuisine, popular culture and shopping. Globalization has played a vital role in interchanging activities such as goods, services, technology, culture, and even the lifestyle of people around the world. Japan’s tourism has grown rapidly in the recent years.
There are also several determinants that contribute to economic growth in different countries. In the global platform, the main determinant is the international trade between countries where some have a better trade than others. To be productive, a state requires some drivers with the main determinants being political climate. The political climate in any country sets the stage for all other factors because the leadership determines the level of peace, ease of doing business, technological advancement, and production capacities. The other determinant land is an essential factor of production as well as capital and labor.
Also, worth pointing out is that Turkey is the second most popular tourism place for Russian after Egypt, it indicates the next-to-door friendship between Russia and Turkey. Economic relation “Turkey and Russia accumulated quite important experiences in trade and economic cooperation towards the end of the 20th century. In 2008, the trade volume between the two countries reached record height at 38 billion dollars. There are plans to further increase this figure to 100 billion dollars.” The seaside resorts in Turkey are one of the most popular tourism destinations for Russians, it also provides Russians visa-free travel that is why Turkey is attractive for Russian tourists.
IDENTIFY AND RESEARCH A TOURISM ATTRACTION Introduction Tourism has experienced continued growth and extensive diversification and competition on the last decades, becoming one of the fastest growing economic sectors in the world and by consequence, one of the main income sources for many developing countries. “Every time we travel we are part of a global movement that has the power to drive inclusive development, to create jobs and to build the sustainable societies we want for our future,” says the actual UNWTO¹ Secretary General, Taleb Rifai. “This movement also contributes to build mutual understanding and to safeguard our shared natural and cultural heritage,” he completes. A sustainable and responsible approach to tourism means that neither the natural environment nor the socio-cultural organisation of the host communities would be compromised by the arrival of tourists.
The most effective way to achieve economic growth is to invest in high education. Well educated workers tend to produce more money benefiting not only the company they are working for, but also improving economic situation in the
INTRODUCTION Economic growth is defined as the increased capacity of an economy to be able to produce goods and services in comparison from one period of time to another. This is figured by the genuine Gross Domestic Product (GDP) and development, and is measured by utilizing genuine terms such as “Balanced Inflation”. These terms help to remove any distorted views on the perceived outcome of inflation on the cost of merchandises produced. Likewise, Economic growth is related to the high expectations in a person’s standard of living. If the standards are high, it wouldn’t be beneficial for the economy as the working class individuals will face a lot of trouble.
The above description do set the scene part for this essay on the tourist behaviour and it is the main initial point for the final description of the topic which is to be shaped further. To completely understand the tourist behaviour, it requires searching out the individual experiences and the motivations of travelling. There are many of the researches and studies one in past by the great authors and researchers on the individual experiences and their motivations of travelling. The tourist behaviour in recent past has been studied with great efforts and many of the conclusions had been drawn regarding the crucial factors which do have an impact on the decision making of the tourist’s. There is a great risk involved in the process of destinations decision making.
At the world conference held in Manila on tourism in 1980, importance of tourism and its effects were recognized in the declaration, which stated as; ‘’tourism is an essential activity both on the life of the nation since its direct and indirect effects on economical, social, cultural, and educational sectors of the society and their international relations’’. Economic benefits of tourism 1. Contribution to Gross Domestic Product; Tourism is being one of the world’s largest industries and contributes directly and indirectly (total contribution) to the global economy. Its contribution to GDP growth reflects the total spending within a particular country by residents or neon residents for business or leisure purposes as well as government spending on tourism goods and services which linked to visitors. According to the World Travel and Tourism Council
Nowadays hospitality and tourism industry is one of the main industry in this world. A lot of people need a place to escape from their routines or even just to stay overnight as they having a business trip to other places. We call these people as customer or guest. Human mobility from one place to another , both in the country and from and abroad is very high. Human mobility is not only related to business activities but also recretional activities.
Rural development is as important as urban development. Alleviating the hardships of the rural people is fundamental to rural development. Efforts at developing the rural areas are aimed at creating industries and employment opportunities. Any initiative towards this end would be welcomed with open arms in Nepal. This would also reduce the population density in the cities.
Economic growth and economic development In measuring and identifying the factors that stimulate the growth of the economy of a nation such as the Republic of India, a distinction needs to be made between economic growth and economic development. For a nation to experience economic growth, there must be an increase in the gross domestic product (GDP), which is a qualitative measure of the value of all finished goods and services produced in that country within a period of time. However, economic development which is usually measured through the human development index (HDI), includes not only an increase in the output of goods and services, but an improvement in the welfare of individuals within a country.
ROLE OF MONEY IN MACROECONOMICS 1. Introduction Money can be seen as the medium of exchange which is acceptable while transaction is being undertaken between two parties. Some of the common forms of money are: - Commodity money: This is when the value of the good represents its value in terms of money like gold or silver. - Fiat money: This is when the value of the good is less than the value it represents - Bank money: It is the accounting credits that can be used by the depositor Money serves a variety of crucial functions in the economy and this is why it has gained an unparalleled influence in the matters of economy at micro as well as macro levels. Some of the features of money that make it so important for any economy are as follows: