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10/04/2018

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1. Basic concepts of tourism

2. Microeconomics

3. Macroeconomics

4. Tourism demand

5. Tourism expenditure

6. Tourism supply

• Mid-term

7. Tourism and balance of payments

8. Tourism and national income

9. Tourism and employment

10. Factors affecting balance in tourism

11. Tourism development and sustainability

12. Analysis of World & Turkish tourism

12:27 TUR 1018 TOURISM ECONOMICS - ÖZAY YILDIZ 2


• Regional tourism• Indicators for establishments & organisations

• Identifying possible business opportunities, assessing the volume and intensity of tourism business

• Private and public regional tourism networks and clusters

• Aim: Comparisons of tourism, in terms of visitor numbers, characteristics and expenditure, across regions and between the regional and national levels

• A national collection framework for tourism statistics• A common set of definitions


• Regional tourism:a) Residents from other countries (inbound visitors for

the country as a whole),

b) Residents from another part of the national territory

c) Residents from this region


Domestic visitors

• No exchange of foreign currency• Redistribution of domestic income between regions

• Alleviate developmental differences between regions

• Increase in government spending (infrastructure)

• Increase in standard of living

• High multiplier effect higher economic activity and growth

• Regional tourism production• Import substitution

• Decrease the need for import & leakages


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• Direct tourism income:• Inbound & domestic (i.e. internal) tourism expenditure & investments

• Income for tourism establishments (their production factors)

• Indirect tourism income:• The income earned by production factors is spent within the economy

• Induced tourism income:• The stimulation effect caused by increased economic activity due to

tourism

Total tourism income > tourist expenditure


• Individual distribution• Distribution of income among individuals & households

• Functional distribution• Shares of factors of production

• Expenditures through the distribution process flows of income

• Flows of income / expenditure

• Flows of goods & services


Flows of

Income and

Expenditure

Product Purchase

Consumption expenditures

Product

markets

Product Sales

Total revenue from sales

Flows of

Goods and

Services

Finance

markets

Savings Investment

Households

(Consumption

of Goods &

Services

Firms

(Production of

Goods &

Services

Factor IncomeFactor Payments

Factor PurchasesFactor Sales

Factor

Markets

FOREIGN SECTOR

• Flows of income / expenditure:• Income for the next group

• Alternatives for income:• Savings / expenditure

• mps + mpc = 1


12:40 TUR 1018 TOURISM ECONOMICS - ÖZAY YILDIZ 11 12:40 TUR 1018 TOURISM ECONOMICS - ÖZAY YILDIZ 12

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TOURISM INCOME

TAXES

AGRICULTURE

WAGES

INDUSTRY

SAVINGS

PURCHASES

(TOURISM)LEAKAGES

LEAKAGES

SERVICES

RED

IST

RIB

UT

ION

OF I

NC

OM

E

1ST

ST

AG

E2

ND

ST

AG

E

• EXAMPLE

• The income effect of a $1000 (inbound) tourism expenditure

• Data:• MPC: 0,752

• Turnover rate: 5 periods



Type of Tourism

Consumption%

Turnover Period Total

Expenditure1 2 3 4 5

Accommodation 20,1 201 201 151 114 85 752

F&B 29,9 299 299 225 169 127 1119

Transportation 15 150 150 113 85 64 562

Shopping 19,9 199 199 149 112 84 743

Entertainment 15,1 151 151 114 86 65 567

Total 1000 1000 752 566 425 3743



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• The effect of increased income through continuous expenditure, created by the flow of income – expenditure

• The multiplier:• The coefficient value that indicates the theoretic and quantitative effect of

marginal expenditure on income

• The ratio of changes in expenditure on the change in GDP

• MPC ↑ MULTIPLIER ↑


• Wide range of visitor needs• Collaboration of numerous industries

• Numerous suppliers

• Tourism consumption High rate of expenditure

• The multiplier effect of tourism is HIGH


• Additional Tourism Imports

• Upfront leakages• Foreign operators / carriers etc.


• Increasing factors• Regional economic volume• Industrial collaboration• Local resource use• Local tourism consumption

• Decreasing factors• Marginal propensity to save MPS• Marginal propensity to import MPM• Leakages• Foreign operators & carriers

• Neutral effects• Geographical size & diversification of the destination• Time factor


• Direct tourism income• Rt

• Rt + indirect & induced tourism income = Total tourism income• ΔR (total increase in GDP due to tourism)

• The measurement of indirect & induced tourism income = the multiplier coefficient

• k

• k = ΔR / Rt

• k = 1 / mps

• k = 1 / (1-mpc)


• In an open economy:

• Donald E. Lundberg’s multiplier formula:

•𝑘 =1−𝑡𝑝𝑚

1−𝑚𝑝𝑐 +𝑚𝑝𝑚

• tpm: visitors’ propensity to consume imported products

• mpm: marginal propensity to import


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• Example:• mpc = 0,724

• mpm = 0,056

• tpm = 0,022

• Rt: $18b

• k= 1 – tpm / (1−𝑚𝑝𝑐)+𝑚𝑝𝑚

• = 1 – 0,022 / (1-0,724) + 0,056

• = 2,941

• ΔR = $18b * 2,941 = $52,938b


• Tourism investment multiplier (k)• Increase in investments (ΔI)

• Increase in income (ΔY)

• ∆Y =k×∆I



• The goal of economic activity is to CREATE VALUE

• The factors of production are subjected to certain production processes to• Produce end products

• That will better satisfy human needs

• And create higher value than their cost

15: 14 TUR 1018 TOURISM ECONOMICS - ÖZAY YILDIZ 30

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• The production process• Creates value

• Adds value to the factors of production

• Total value added Total goods & services produced in a country

Indicator of GDP


• The value added created by tourism is higher than other industries

1. Tourism utilises free goods to create economic value

2. Service production: Labour-intensive

3. Input from other industries

4. Tourism products are end products

• Induced value added:• Tourism development in a region creates a wave of economic

development and catalyses other industries


Harcama türüHarcama (1000

USD)

FÜS (Faaliyete göre Ürünlerin İstatistikî

Sınıflaması) ekonomik etkinlik alanı

Alanın katma

değer oranı

Yaratılan

katma değer

1. Kişisel harcamalar 9 909 692

Yeme-içme 2.309.739 Oteller ve lokantalar 0,4466 1.031.434

Konaklama 1.931.015 Oteller ve lokantalar 0,4466 862.312

Sağlık 147.844 Sağlık işleri ve sosyal hizmetler 0,5152 76.170

Ulaştırma (ulusal) 557.219 Kara taşımacılığı 0,5260 293.109

Ulaştırma (uluslararası) 394.134 Havayolu taşımacılığı 0,2669 105.210

Spor, eğitim, kültür 248.445Eğlence, dinlenme, kültür ve sporla

ilgili faaliyetler0,4980 123.733

Tur hizmetleri 146.783Destekleyici ve yardımcı ulaştırma

faaliyetleri; seyahat acentelerinin faaliyetleri0,4674 68.609

GSM 86.576 Posta ve telekomünikasyon 0,5401 46.759

Marina 12.034 Su yolu taşımacılığı 0,4251 5.116

Diğer mal ve hizmetler 4.075.904

Giyecek ve ayakkabı 1.127.091 Giyim eşyası imalatı 0,2639 297.480

Hediyelik eşya 694.616 Diğer iş faaliyetleri 0,6094 423.301

Halı, kilim vb 302.604 Tekstil ürünleri imalatı 0,2341 70.841

Diğer harcamalar 1.951.592Başka yerde sınıflandırılmamış üye

olunan kuruluşların faaliyetleri0,5405 1.054.797

2. Paket tur toplamı

(Ülkemize kalan pay)2.510.827 Oteller ve lokantalar 0,4466 1.121.231

3. Toplam 12.420.519 0,4493 5.580.101

• Increasing international tourism in a developing economy:• Increases demand of tourism goods & services

• Increases demand of factors of production & also imported products

• Increases inflationist pressures

• The duration between increase in tourism demand & finalisation of investments increases prices

• The inflationist pressure caused by tourism development:• Increases the prices of tourism goods & services

• Increases the prices of supplying industries

• Increases regional prices


• Income / substitution effect• Visitors do not always make rational consumption decisions

• Vacation habits

• Regional (comparative / absolute) advantages of tourism establishments

• Reproduction

• Changes in consumption patterns

• Lack of market knowledge

• Impact of promotion

• Distance

• Consumption habits


• The demand elasticity of domestic & international tourism may depend on prices or (disposable) income• If economic cost of domestic tourism = International tourism

• Rational decision Utility maximisation International tourism

• As the rate of the cost of travel / consumer’s total budget increases:• The price elasticity of tourism demand increases

• Higher income groups• Less elastic than lower income groups


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• Direct & indirect income due to tourism activity• Taxes, customs etc.

• Increase public income

• Public costs of tourism development• Promotion, incentives, monetary measures, infrastructure investments,

administrative costs etc.

• Increase public expenditure


• Dilts, D. A., Introduction to Macroeconomics, Department of Economics Doermer School of Business and Management Sciences, Indiana-Purdue University-Fort Wayne, 2006

• Timur, A., Turizm Ekonomisi ders notları

• Goeldner, Charles R., J.R. Brent Ritchie, Tourism, Principles, Practices, Philosophies, 11th Ed. John Wiley & Sons, NY, 2009

• Lickorish, Leonard & Carson L. Jenkins, An Introduction to Tourism, Butterworth-Heinemann, Oxford, 1999

• www.unwto.org

• International Recommendations for Tourism Statistics 2008, UNWTO

• Toskay, T. Turizm Olayına Genel Yaklaşım, 2. Baskı, Der Yayınları, İstanbul, 1983

• Olalı, H. ve Timur, A. Turizm Ekonomisi, Ofis Ticaret Matbaacılık, İzmir, 1988

• Kozak, N. vd, Genel Turizm (7. Baskı) İlkeler – Kavramlar, Detay Yayıncılık, Ankara, 2008

• İçöz, O. (ed), Genel Turizm – Turizmde Temel Kavramlar ve İlkeler, Turhan Kitabevi, Ankara, 2007


http://www.unwto.org/

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