Empirical Investigation of the Relationship Between Health Tourism Revenues and Economic Growth in the Fourier Approach

Year 2023, Volume: 11 Issue: 3, 1769 - 1791, 16.10.2023

Seyhun Tutgun , Soner Künç

https://doi.org/10.33715/inonusaglik.1289575

Abstract

Health tourism is expressed as organized travel outside the local environment in order to protect, improve or renew one's mental and physical health. Especially in recent years, serious problems are experienced in the global production and supply chain due to the COVID-19 epidemic in the world and the Russia-Ukraine war. While these problems are deeply felt in many sectors, especially in underdeveloped and developing countries, the health tourism sector has also been adversely affected by the events. The decrease in international mobility due to travel restrictions and security reasons has led to a decrease in health tourism revenues. Health tourism, where seasonal effects are not experienced, can positively affect economic growth in one of the world's most important health tourism destinations, such as Turkey, through foreign currency inflows. The aim of this study is to examine the effect of health tourism on economic growth, especially in Turkey, which is one of the most important health tourism destinations in the world. In the study using quarterly time series data between 2012Q1-2022Q4, the Fourier Bootstrap ARDL method developed by Yılancı, Bozoklu and Gorus (2020) was used to reveal the existence of a long-term relationship. In addition, Least Squares method (OLS) and Fully Modified Least Squares (FMOLS) methods were applied for parameter coefficient estimations. Our findings, while revealing the existence of a long-term relationship, showed that increases in health tourism income positively affect economic growth. In the light of the findings, it is predicted that the countries that take into account the developments in the field of health tourism and invest in this field will take a significant share from the health tourism revenues among the factors that increase the country's welfare in the future.

Keywords

Growth, Fourier ARDL, Health tourism

SAĞLIK TURİZMİ GELİRLERİ VE EKONOMİK BÜYÜME İLİŞKİSİNİN FOURIER YAKLAŞIMI İLE AMPİRİK OLARAK İNCELENMESİ

Abstract

Sağlık turizmi, kişinin zihin ve beden sağlığını korumak, geliştirmek veya yenilemek için yerel çevresi dışında organize seyahat etmesi olarak ifade edilmektedir. Özellikle son yıllarda dünyada yaşanan COVID-19 salgını ve Rusya-Ukrayna savaşından dolayı küresel üretim ve tedarik zincirinde ciddi sorunlar yaşanmaktadır. Bu sorunlar, özellikle az gelişmiş ve gelişmekte olan ülkelerde birçok sektörde derinden hissedilirken, sağlık turizmi sektörü de yaşanan olaylardan olumsuz etkilenmiştir. Seyahat kısıtlamaları ve güvenlik gerekçesiyle uluslararası hareketliliğin azalması sağlık turizmi gelirlerinin düşmesine yol açmıştır. Mevsimsel etkilerin yaşanmadığı sağlık turizmi, Türkiye gibi dünyanın en önemli sağlık turizmi destinasyonlarından birinde, döviz girdisi yoluyla ekonomik büyümeyi olumlu etkileyebilir. Bu çalışmanın amacı, özellikle dünyadaki en önemli sağlık turizmi destinasyonlardan biri olan Türkiye’de, sağlık turizminin ekonomik büyüme üzerindeki etkisini incelemektir. 2012Q1-2022Q4 yılları arası çeyreklik zaman serisi verisinin kullanıldığı çalışmada, uzun dönemli ilişkinin varlığını ortaya koymak için Yılancı, Bozoklu ve Gorus (2020) tarafından geliştirilen Fourier Bootstrap ARDL yöntemi kullanılmıştır. Ayrıca parametre katsayı tahminleri için En Küçük Kareler yöntemi (OLS) ve Tam Modifiye Edilmiş En Küçük Kareler (FMOLS) yöntemleri uygulanmıştır. Bulgularımız, uzun dönemli ilişkinin varlığını ortaya koyarken, sağlık turizm gelirinde yaşanan artışların ekonomik büyümeyi olumlu yönde etkilediğini göstermiştir. Elde edilen bulgular ışığında, sağlık turizmi alanındaki gelişmeleri dikkate alan ve bu alana yatırım yapan ülkelerin gelecekte ülke refahını arttırıcı unsurlar arasında sağlık turizm gelirlerinden önemli pay alacakları öngörülmektedir.

Keywords

Büyüme, Fourier ARDL, Sağlık turizmi

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