Impact of Covid-19 Pandemic on Financial Performance and Financial Failure Risk in Travel Agency and Tour Operators Activities Sector

Cemile Öcek; Mehmet Beyazgül; Erdinç Karadeniz

Makale detayları

Impact of Covid-19 Pandemic on Financial Performance and Financial Failure Risk in Travel Agency and Tour Operators Activities Sector

Yazarlar:

Cemile Öcek | Mehmet Beyazgül | Erdinç Karadeniz

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.7 Issue 1, pp.169-186

Belge Tipi:

Makale

Yayın Tarihi:

1/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001283503

pISSN:

2651-4192

Anahtar kelimeler:

Özet:

 In this study, the effect of the Covid-19 pandemic on the financial performance and financial failure risk of the travel agency and tour operator activities sector in Turkey was examined. For this purpose, the financial performance of the sector and the risk of financial failure were analyzed using data from the real sector statistics of the Central Bank of the Republic of Turkey on the subs-sector of Travel Agencies and Tour Operators Activities for the years 2018, 2019 and 2020. While examining the financial performance of the sector by calculating liquidity ratios, asset utilization ratios, financial structure ratios and profitability ratios; financial failure risk was analyzed using Altman Z Score, Altman Z Score, Fulmer H Score, Springate Score and Ohlson Score models. In the study, it was revealed that during the Covid-19 pandemic, the travel agency and tour operator activities sector experienced cash shortages, credit debts increased and, accordingly, its financial costs increased and losses were experienced. At the same time, it has been determined that the sector is exposed to the risk of financial failure during the Covid-19 pandemic.

 In this study, the effect of the Covid-19 pandemic on the financial performance and financial failure risk of the travel agency and tour operator activities sector in Turkey was examined. For this purpose, the financial performance of the sector and the risk of financial failure were analyzed using data from the real sector statistics of the Central Bank of the Republic of Turkey on the subs-sector of Travel Agencies and Tour Operators Activities for the years 2018, 2019 and 2020. While examining the financial performance of the sector by calculating liquidity ratios, asset utilization ratios, financial structure ratios and profitability ratios; financial failure risk was analyzed using Altman Z Score, Altman Z Score, Fulmer H Score, Springate Score and Ohlson Score models. In the study, it was revealed that during the Covid-19 pandemic, the travel agency and tour operator activities sector experienced cash shortages, credit debts increased and, accordingly, its financial costs increased and losses were experienced. At the same time, it has been determined that the sector is exposed to the risk of financial failure during the Covid-19 pandemic.

 In this study, the effect of the Covid-19 pandemic on the financial performance and financial failure risk of the travel agency and tour operator activities sector in Turkey was examined. For this purpose, the financial performance of the sector and the risk of financial failure were analyzed using data from the real sector statistics of the Central Bank of the Republic of Turkey on the subs-sector of Travel Agencies and Tour Operators Activities for the years 2018, 2019 and 2020. While examining the financial performance of the sector by calculating liquidity ratios, asset utilization ratios, financial structure ratios and profitability ratios; financial failure risk was analyzed using Altman Z Score, Altman Z Score, Fulmer H Score, Springate Score and Ohlson Score models. In the study, it was revealed that during the Covid-19 pandemic, the travel agency and tour operator activities sector experienced cash shortages, credit debts increased and, accordingly, its financial costs increased and losses were experienced. At the same time, it has been determined that the sector is exposed to the risk of financial failure during the Covid-19 pandemic.

 Bu çalışmada, Covid-19 salgınının Türkiyedeki seyahat acentesi ve tur operatörü faaliyetleri sektörünün finansal performansına ve finansal başarısızlık riskine etkisi incelenmiştir. Bu amaç doğrultusunda, Türkiye Cumhuriyet Merkez Bankasının reel sektör istatistiklerinden elde edilen Seyahat Acentesi ve Tur Operatörleri Faaliyetleri alt sektörünün 2018, 2019 ve 2020 yıllarına ait veriler kullanılarak sektörün finansal performansı ve finansal başarısızlık riski analiz edilmiştir. Sektörün finansal performansı; likidite oranları, varlık kullanım oranları, finansal yapı oranları ve karlılık oranları hesaplanarak incelenirken; finansal başarısızlık riski, Altman Z Skor, Altman Z Skor, Fulmer H Skor, Springate Skor ve Ohlson Skor modelleri kullanılarak analiz edilmiştir. Çalışmada seyahat acentesi ve tur operatörleri faaliyetleri sektörünün Covid-19 salgın döneminde nakit sıkıntısı yaşadığı, kredi borçlarının arttığı ve buna bağlı olarak finansal maliyetlerinin arttığı ve zarar ettiği ortaya çıkmıştır. Aynı zamanda sektörün Covid-19 salgını döneminde finansal başarısızlık riskine maruz kaldığı saptanmıştır.

Makale detayları

Impact of Covid-19 Pandemic on Financial Performance and Financial Failure Risk in Travel Agency and Tour Operators Activities Sector

Yazarlar:

Cemile Öcek | Mehmet Beyazgül | Erdinç Karadeniz

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.7 Issue 1, pp.169-186

Belge Tipi:

Makale

Yayın Tarihi:

1/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001283503

pISSN:

2651-4192

Covid-19

Financial Performance

Financial Failure Risk

Travel Agency and Tour Operators Activities Sector

CBRT

Finansal Performans

Finansal Başarısızlık Riski

Seyahat Acentesi ve Tur Operatörleri Sektörü

TCMB

Sayı

Makale detayları

Yazarlar: Cemile Öcek | Mehmet Beyazgül | Erdinç Karadeniz

Yayıncı: Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar: Finans

Dergi: Alanya Akademik Bakış Vol.7 Issue 1, pp.169-186

Belge Tipi: Makale

Yayın Tarihi: 1/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001283503

pISSN: 2651-4192

Sayı

Yazarlar:

Cemile Öcek | Mehmet Beyazgül | Erdinç Karadeniz

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.7 Issue 1, pp.169-186

Belge Tipi:

Makale

Yayın Tarihi:

1/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001283503

pISSN:

2651-4192