Panel cointegration analysis of relationship between international trade and tourism: Case of Turkey and silk road countries

Tourism development has been examined from various aspects and studies examining relations between tourism and other sectors are increasing. This study tests the relationship between the incoming tourists and volumes of import and export of Turkey and 13 Silk Road countries, through Panel ARDL. The...

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Published inTourism management perspectives Vol. 31; pp. 361 - 369
Main Authors Çalışkan, Uğur, Saltik, Işıl Arikan, Ceylan, Reşat, Bahar, Ozan
Format Journal Article
LanguageEnglish
Published Elsevier Ltd 01.07.2019
Subjects
International trade
Panel cointegration analysis
Silk road
Tourism
Turkey
Tourism
Silk road
International trade
Turkey
Panel cointegration analysis
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Summary:Tourism development has been examined from various aspects and studies examining relations between tourism and other sectors are increasing. This study tests the relationship between the incoming tourists and volumes of import and export of Turkey and 13 Silk Road countries, through Panel ARDL. The study is important since it is thought to be the first to check the relation between tourist flows and trade amongst the Silk Road countries. Findings point out that even though there are differences in short-term and long-term relations, tourist flows and international trade are related, which indicates that international trade is important for tourism development. •Tourist flows and international trade are strongly related.•International trade is important for tourism development.•In short term, tourism is related to both import and export.•However, in the long term, tourist arrivals are influenced only by import.
ISSN:2211-9736
2211-9744
DOI:10.1016/j.tmp.2019.07.003