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Demand for Turkey as Tourist Destination
Fidanboy, Kemal Berk ; Cahlík, Tomáš (advisor) ; Semerák, Vilém (referee)
This master's thesis focuses on main determinants of tourism demand of Turkey. Analysis is made for 95 countries between 2007 and 2016 using panel data gravity model. Variables which are used in the analysis are economic variables (GDP per capita and relative prices), weighted distance, population and political variables which are terror and democracy index differences between tourist origin country and Turkey, internal political problem, which is coup d'état attempt in 2016 and foreign policy problems which are Gaza crisis with Israel and plane crisis with Russia. Key contribution of this thesis is to include political variables in the model, extend the data set and observe the time period which Turkey has the highest number of tourists and experienced sharp decrease afterwards. As for the estimation, three different models which are pooled Ordinary Least Squares, Fixed Effects and Random Effects are used. These models are compared with each other by performing different tests and it is founded out that Fixed Effects model is the most efficient one. For the results, it is founded out that except the political variables; other variables have expected significance and contribution, both positive and negative, to tourism demand of Turkey. Even though the internal and foreign political problems have...