Analysing the impact of exchange rate shocks on health tourism with SVAR analysis

Hilal Gündoğan; Kerim Coşkun; Süleyman Çelik

Makale detayları

Analysing the impact of exchange rate shocks on health tourism with SVAR analysis

Yazarlar:

Hilal Gündoğan | Kerim Coşkun | Süleyman Çelik

Yayıncı:

Erciyes University

Ana Başlıklar:

Finans

Dergi:

Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Issue 71, pp.33-40

Belge Tipi:

Makale

Yayın Tarihi:

8/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001357076

pISSN:

1301-3688

Anahtar kelimeler:

Özet:

 Health tourism, which has become a significant global market, offers economic opportunities for destinations. In particular, the rise in foreign exchange rates directly influences health tourism, impacting both tourism demand and revenues. Therefore, understanding the effects of exchange rate fluctuations on health tourism is critical for the sectors future success. This study aims to empirically examine the extent and direction to which health tourism is affected by shocks in exchange rates. The research utilizes quarterly time series data from Türkiye covering the period from 2012:Q1 to Q1 2024:Q1. The Augmented ARDL test applied in the study reveals a long-term cointegrated relationship between exchange rates and health tourism. Furthermore, the causality test by Breitung and Candelon 2006 indicates that exchange rates have a causality effect on health tourism. Conversely, health tourism also influences exchange rates across short, medium, and long-term periods. The SVAR test results show that an increase in the exchange rate leads to an increase in health tourism. Nevertheless, the empirical findings suggest that the impact of exchange rate shocks on health tourism is relatively modest.

 Health tourism, which has become a significant global market, offers economic opportunities for destinations. In particular, the rise in foreign exchange rates directly influences health tourism, impacting both tourism demand and revenues. Therefore, understanding the effects of exchange rate fluctuations on health tourism is critical for the sectors future success. This study aims to empirically examine the extent and direction to which health tourism is affected by shocks in exchange rates. The research utilizes quarterly time series data from Türkiye covering the period from 2012:Q1 to Q1 2024:Q1. The Augmented ARDL test applied in the study reveals a long-term cointegrated relationship between exchange rates and health tourism. Furthermore, the causality test by Breitung and Candelon 2006 indicates that exchange rates have a causality effect on health tourism. Conversely, health tourism also influences exchange rates across short, medium, and long-term periods. The SVAR test results show that an increase in the exchange rate leads to an increase in health tourism. Nevertheless, the empirical findings suggest that the impact of exchange rate shocks on health tourism is relatively modest.

 Health tourism, which has become a significant global market, offers economic opportunities for destinations. In particular, the rise in foreign exchange rates directly influences health tourism, impacting both tourism demand and revenues. Therefore, understanding the effects of exchange rate fluctuations on health tourism is critical for the sectors future success. This study aims to empirically examine the extent and direction to which health tourism is affected by shocks in exchange rates. The research utilizes quarterly time series data from Türkiye covering the period from 2012:Q1 to Q1 2024:Q1. The Augmented ARDL test applied in the study reveals a long-term cointegrated relationship between exchange rates and health tourism. Furthermore, the causality test by Breitung and Candelon 2006 indicates that exchange rates have a causality effect on health tourism. Conversely, health tourism also influences exchange rates across short, medium, and long-term periods. The SVAR test results show that an increase in the exchange rate leads to an increase in health tourism. Nevertheless, the empirical findings suggest that the impact of exchange rate shocks on health tourism is relatively modest.

 Dünya genelinde önemli bir pazar haline gelen sağlık turizmi, destinasyonlar açısından ekonomik fırsatlar sağlamaktadır. Özellikle döviz kurunun artış göstermesi, sağlık turizmini doğrudan etkileyerek turizm talebi ve turizm gelirleri üzerinde etkili olmaktadır. Dolayısıyla döviz kurunda meydana gelen değişimlerin sağlık turizmindeki etkilerini anlamak, sektörün gelecekteki başarısı açısından kritik bir öneme sahiptir. Bu doğrultuda araştırmanın amacı sağlık turizminin döviz kurunda meydana gelen şoklardan ne ölçüde ve ne yönde etkilendiğini ampirik olarak incelemektir. Araştırmada Türkiyenin 2012:Q1- 2024:Q1 yıllarına ait çeyrek dönemlik zaman serisi verileri kullanılarak analiz edilmiştir. Çalışmada uygulanan Genişletilmiş ARDL testi analizi sonucunda döviz kuru ile sağlık turizmi arasında uzun dönemde eşbütünleşik bir ilişkinin var olduğu belirlenmiştir. Ayrıca Breitung ve Candelon 2006 nedensellik testi sonucuna göre hem döviz kurunun sağlık turizmi üzerinde hem de sağlık turizminin döviz kuru üzerinde kısa, orta ve uzun dönemlerde nedensel etkiye sahip olduğu tespit edilmiştir. Çalışmada uygulanan SVAR testi sonucuna göre döviz kurunda yaşanan artışın sağlık turizminde artış meydana getirdiği bulgusuna ulaşılmıştır. Bununla birlikte elde edilen ampirik bulgular döviz kuru şoklarının sağlık turizmi üzerindeki etkisinin çok yüksek olmadığını göstermektedir.

Makale detayları

Analysing the impact of exchange rate shocks on health tourism with SVAR analysis

Yazarlar:

Hilal Gündoğan | Kerim Coşkun | Süleyman Çelik

Yayıncı:

Erciyes University

Ana Başlıklar:

Finans

Dergi:

Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Issue 71, pp.33-40

Belge Tipi:

Makale

Yayın Tarihi:

8/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001357076

pISSN:

1301-3688

Tourism

Tourism economy

Exchange rate

SVAR analysis

TürkiyeTurizm

Turizm ekonomisi

Döviz kuru

SVAR analizi

Türkiye

Sayı

Makale detayları

Yazarlar: Hilal Gündoğan | Kerim Coşkun | Süleyman Çelik

Yayıncı: Erciyes University

Ana Başlıklar: Finans

Dergi: Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Issue 71, pp.33-40

Belge Tipi: Makale

Yayın Tarihi: 8/2025

Belge Dili: İngilizce

Document ID (Org No.): 2001357076

pISSN: 1301-3688

Sayı

Yazarlar:

Hilal Gündoğan | Kerim Coşkun | Süleyman Çelik

Yayıncı:

Erciyes University

Ana Başlıklar:

Finans

Dergi:

Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Issue 71, pp.33-40

Belge Tipi:

Makale

Yayın Tarihi:

8/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001357076

pISSN:

1301-3688