Determining the Effect of Credit Usage on Tourist Consumption in Turkey

Turkish tourism is one of the top 10 countries in the world tourism with the fastest growth rate in recent years. The aim of the study is to analyze the effect of financial system on touristic consumption. At the end of 2023, the number of tourists visiting Turkiye was 57 million and the tourism revenue was $ 54.3 Billion. In the last 20 years, the number of foreign visitors increased 3.74%, travels abroad increased 2.53% and domestic travels increased 0.27%. One of the main factors of this rapid growth in the tourism industry is the quantitative and qualitative increase in the tourism demand. International tourism has contributed to the growth of Turkish tourism in recent years. The effect of the increase in domestic tourism demand has helped a more stable and balanced structure of Turkish tourism. With the increase in per capita income, the banking and finance system has a great impact on the increase in tourism demand. Firstly, we examined both domestic and foreign tourism income and expenditure trends in Turkiye in the study. Secondly, we tried to determine the relationship between tourist consumption and consumer credit usage. Finally, we evaluated the effect of credit usage on tourist consumption in Turkiye. The descriptive method was used to determine the existing situation. The study revealed that tourist consumption and credit usage have been increased in last 20 years despite of negative developments in the world economy. The study concludes that the increase in consumer credit promotes tourist consumption.