The impact of Turkey's economic crisis of February 2001 on the tourism industry in Northern Cyprus
By Fevzi Okumus, M. Altinay, H. Arasli. 2005
181 citations recorded by the source corpus.
Abstract This study investigates the impact of the February 2001 economic crisis in Turkey on the tourism sector in Northern Cyprus. A case study approach was followed. Empirical data were collected from 78 hotels in Northern Cyprus through the distribution of a questionnaire and by conducting a series of semi-structured interviews. The research findings reveal that the overwhelming majority of firms participating in the study did not foresee the economic crisis in Turkey. They therefore failed to take any advance measures to deal with it. The economic crisis was found to have had both a negative and positive impact on the tourism industry in Northern Cyprus, although the negative impact seems to have been greater. Implications of the findings are discussed and several recommendations for practice and for future research are provided.
Subfields: Sociology and Political Science, Transportation
View Paper: https://www.semanticscholar.org/paper/bc2a1e5d62f22f6d0d307b70f7d5369c9cb62196
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In Sociology and Political Science
In Transportation
Citations in the corpus
- Understanding the Effects of a Tourism Crisis (2014, background): “…interact with each other but also because the tourism industry greatly relies and is impacted by many external factors, such as the currency exchange rate, the political situation, discretionary income, the environment, and the weather (Cassedy 1992; Okumus, Altinay, and Arasli 2005; Pforr 2009).”
- COVID-19 Impacts and Recovery Strategies: The Case of the Hospitality Industry in Spain (2020, background): “Economic Northern Cyprus Okumus, Altinay & Arasli 2005 [18] Tourist demand from Turkey decreased; Fixed and variable costs increased; Faced difficulties in collecting loans; Postponed future investment plans; Faced difficulties in paying debts Checked our business agreements and contracts; Increased”
- Seeing the invisible hand: Underlying effects of COVID-19 on tourists’ behavioral patterns (2020, unknown): “According to Yang and Nair (2014), a key research trend in tourism involves risk and crisis management (Ritchie & Jiang, 2019), which includes terrorism (Massey, 2005; Sönmez, 1998), political instability (Zenker, Von Wallpach, Braun, & Vallaster, 2019), economic crises (Bodosca, Gheorghe, & Nistore”