COINTEGRATION ANALYSIS OF GROWTH RATE IN YACHT MANAGEMENT AND TOURIST EXPENDITURES: THE CASE OF TURKIYE
Turizm Ekonomi ve İşletme Araştırmaları Dergisi, cilt.7, sa.2, ss.104-119, 2025 (Hakemli Dergi)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 7 Sayı: 2
- Basım Tarihi: 2025
- Dergi Adı: Turizm Ekonomi ve İşletme Araştırmaları Dergisi
- Sayfa Sayıları: ss.104-119
- Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
- İstanbul Üniversitesi-Cerrahpaşa Adresli: Evet
Özet
Yacht management is a crucial component of marine tourism, especially in coastal countries like Türkiye, which have extensive natural bays suitable for yacht-based activities. Although the COVID-19 pandemic disrupted many parts of the tourism industry, yacht companies—particularly those offering blue cruises—remained resilient and continued contributing to the economy. This study examines the relationship between the growth of Türkiye’s yacht management sector and average tourist expenditure per capita in US dollars from 2003 to 2021. The dependent variable is annual per capita tourist spending, while the independent variable is the number of licensed yacht companies approved by the Ministry of Culture and Tourism. The study employs econometric techniques, including cointegration and Granger causality tests, along with Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS), and variance decomposition analysis. The results indicate a long-term equilibrium relationship and co- movement between the two variables. FMOLS and DOLS findings show that an increase in the number of yacht companies has a statistically significant and positive effect on tourist spending per capita. These results highlight the growing economic role of yacht management in Türkiye’s tourism industry and offer valuable insights for tourism policymakers and stakeholders seeking to enhance high-value tourism activities.