Hot Air Balloon Rides in Cappadocia: A Business Model to Stimulate the Economy

Eyup Atioğlu

doi:10.37880/cumuiibf.984188

TR EN

Hot Air Balloon Rides in Cappadocia: A Business Model to Stimulate the Economy

Abstract

In this study, the effect of the number of tourists experiencing hot air balloon rides in Cappadocia on Turkey's international tourism incomes was examined using ARDL bounds test and Granger causality test. The dataset includes 60 observations on a monthly basis between 2015 and 2019. In the study, a cointegration relationship, which expresses a long-term balance between the number of tourists experiencing a hot air balloon ride in Cappadocia and Turkey's international tourism incomes, has been determined. According to the findings of the study, it has been determined that the number of tourists experiencing hot air balloon rides in Cappadocia has a significant positive effect on Turkey's international tourism incomes in both the long and short term. In addition, according to the Granger causality test, a bidirectional causality relationship was determined between the number of tourists experiencing hot air balloon rides in Cappadocia and Turkey's international tourism incomes.

Keywords

References

Adams, W. M., & Infield, M. (2003). Who is on the gorilla’s payroll? Claims on tourist revenue from a Ugandan National Park. World development, 31(1), 177-190. Doi: 10.1016/S0305-750X(02)00149-3
Allied Market Research, (2020). Adventure tourism market, https://www.alliedmarketresearch.com/adventure-tourism-market (Access Date: 23.04.2021)
Archabald, K., & Naughton-Treves, L. (2001). Tourism revenue-sharing around national parks in Western Uganda: early efforts to identify and reward local communities. Environmental conservation, 28(2), 135-149. Doi: 10.1017/S0376892901000145
Barnes, J. I., Schier, C., & Van Rooy, G. (1999). Tourists' willingness to pay for wildlife viewing and wildlife conservation in Namibia. South African Journal of Wildlife Research-24-month delayed open access, 29(4), 101-111. Doi: 10.10520/EJC117083
Bowker, J. M., English, D. B., & Donovan, J. A. (1996). Toward a value for guided rafting on southern rivers. Journal of Agricultural and Applied Economics, 28(2), 423-432. Doi: 10.1017/S1074070800007410
Brown, R.L., Durbin, J. & Evans, J.M. (1975). Techniques for testing the constancy of regression relationships over time. Journal of the Royal Statistical Society: Series B (Methodological), 37(2), 149-163. Doi: 10.1111/j.2517-6161.1975.tb01532.x
Buckley R. (2003). Adventure tourism and the clothing, fashion and entertainment industries. Journal of Ecotourism 2(2): 126-134. Doi: 10.1080/14724040308668139
Buckley R. (2006). Adventure tourism. Wallingford: CAB International

Cater C, I, (2006). Playing with risk? Participant perceptions of risk and management implications in adventure tourism. Tourism Management 27(2): 317-325. Doi: 10.1016/j.tourman.2004.10.005
Duffus, D. A., & Dearden, P. (1993). Recreational use, valuation, and management, of killer whales (Orcinus orca) on Canada's Pacific coast. Environmental conservation, 20(2), 149-156. Doi: 10.1017/S0376892900037656
Engle R.F. & Granger C.W. J. (1987). Co-integration and error correction: representation, estimation and testing. Econometrica, 55, 251–276. Doi: 10.2307/1913236
Fix, P., & Loomis, J. (1997). The economic benefits of mountain biking at one of its meccas: An application of the travel cost method to mountain biking in Moab, Utah. Journal of Leisure Research, 29(3), 342-352. Doi: 10.1080/00222216.1997.11949800
Granger, C. W., & Newbold, P. (1974). Spurious regressions in econometrics. Journal of econometrics, 2(2), 111-120. Doi: 10.1016/0304-4076(74)90034-7
Gujarati, D.N. (2003). Basic econometrics. (4. Edition). McGraw-Hill.
Hill, B. J. (1995). A guide to adventure travel. Parks & Recreation (Arlington), 30(9), 56-65. Doi: 19961802162
Johansen, S. (1988). Statistical analysis of cointegration vectors. Journal of Economic Dynamics and Control, 12, 231-254. Doi: 10.1016/0165-1889(88)90041-3
Johansen, S. (1989). Estimation and hypothesis testing of cointegration vectors in gaussian vector autoregressive models. Institute of Mathematical Statistics, University of Copenhagen, 1-52. Doi: 10.2307/2938278
Johansen, S. and Juselius K. (1990). Maximum likelihood estimation and inference on cointegration with applications to the demand for money. Oxford Bulletin of Economics and Statistics, 52 (2), 169- 210.
Kapadokya Üniversitesi, (2021). Balon uçuş sahasında zipline projesine ilişkin emniyet risklerinin değerlendirilmesi, https://hotairballoon.kapadokya.edu.tr/raporlar-ve-analizler/kapadokya-balon-ucus-sahasinda-zipline-projesine-iliskin-emniyet-risklerinin-degerlendirilmesi (Access Date: 05.05.2021)
Marques L. & Cunha C. (2010). Literary rural tourism enterprise: case study evidence from Northern Portugal. Presentation at the ATLAS conference, Limassol, Cyprus, 3-5 November 2010. Doi: 10.1080/19407963.2013.801158
McKay, T. (2013). Adventure tourism: opportunities and management challenges for SADC destinations. Acta academica, 45(3), 30-62. Doi: 10520/EJC144233
Özen, İ. A., & Özdemir, E. G. (2019). Kapadokya sıcak hava balonculuğu üzerine nitel bir araştırma, Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi, 9(2), 579-595. Doi: 51363/591558
Parsons, E. C. M., Warburton, C. A., Woods‐Ballard, A., Hughes, A., & Johnston, P. (2003). The value of conserving whales: the impacts of cetacean‐related tourism on the economy of rural West Scotland. Aquatic conservation: marine and freshwater ecosystems, 13(5), 397-415. Doi: 10.1002/aqc.582
Pesaran H., Shin Y. & Smith R. J. (2001). Bound testing approaches to the analysis of long run relationship. Journal of Applied Econometrics, 16(3), 289-326. Doi: 10.1002/jae.616
Pine, B. Joseph; Gilmore, James H. (1999). The experience economy, Boston: Harvard Business Review Press
Pomfret, G. (2006). Mountaineering adventure tourists: a conceptual framework for research. Tourism management, 27(1), 113-123. Doi: 10.1016/j.tourman.2004.08.003
Rodenburg E. (1980). The effect of scale in economic development: tourists in Bali. Annals of Tourism Research 7(2): 177-196. Doi: 10.1016/0160-7383(80)90003-1
Sekhar, N. U. (2003). Local people's attitudes towards conservation and wildlife tourism around Sariska Tiger Reserve, India. Journal of environmental Management, 69(4), 339-347. Doi: 10.1016/j.jenvman.2003.09.002
Sevim, K. Ü. L., & Güçer, E. (2019). Determining the leisure satisfaction levels of individuals having hot air balloon ride as an adventurous recreational activity. Journal of multidisciplinary academic tourism, 4(2), 63-69. Doi: 10.31822/jomat.618715
Shephard, G., & Evans, S. (2005). Adventure tourism – Hard decisions, soft options and home for tea: Adventure on the hoof. In M. Novelli (Ed.), Niche tourism: Contemporary issues, trends and cases, 201–209. Doi: 10.1016/B978-0-7506-6133-1.50026-3
SHGM, (2018). SHGM’den turizme önemli katkı: Balon faaliyetlerinde yeni noktalar, http://web.shgm.gov.tr/tr/haberler/5874-shgm (Access Date: 05.05.2021)
Sung, H. H. (2000). An analysis of the adventure travel market: From Conceptual Development to Market Segmentation, PhD, Purdue University.
Sung, H. H., Morrison, A. M., & O'Leary, J. T. (1996). Definition of adventure travel: Conceptual framework for empirical application from the providers’ perspective. Asia Pacific journal of tourism research, 1(2), 47-67. Doi: 10.1080/10941669708721975
Swarbrooke, J., Beard, C., Leckie, S., & Pomfret, G. (2003). Adventure tourism: the new frontier. London: Butterworth-Heinemann. UNWTO, (2014). Global report on adventure tourism, https://www.e-unwto.org/doi/epdf/10.18111/9789284416622, (Accessed: 01.04.2021).
Wanhill S. (2000). Small and medium tourism enterprises. Annals of Tourism Research 27(1): 132-147. Doi: 10.1016/S0160-7383(99)00072-9
Wilkie, D. S., & Carpenter, J. F. (1999). Can nature tourism help finance protected areas in the Congo Basin?. Oryx, 33(4), 332-338. Doi: 10.1046/j.1365-3008.1999.00080.x
Williams P & G N Soutar, (2009). Value, satisfaction and behavioural intentions in an adventure tourism context. Annals of Tourism Research 36(3): 413-438. Doi: 10.1016/j.annals.2009.02.002
Yetim, A. C. (2017). Determining the benefits of adventure tourism from a providers’ perspective in Fethiye. Global Journal of Business, Economics and Management: Current Issues, 7(1), 2-7.
Zuckerman, M. (1990). The psychophysiology of sensation seeking. Journal of personality, 58(1), 313-345. Doi: 10.1111/j.1467-6494.1990.tb00918.x
Zurick, D. N. (1992). Adventure travel and sustainable tourism in the peripheral economy of Nepal. Annals of the Association of American geographers, 82(4), 608-628. Doi: 10.1111/j.1467-8306.1992.tb01720.x

Details

Primary Language

English

Subjects

Finance

Journal Section

Research Article

Authors

Eyup Atioğlu ^*
0000-0001-9460-4822
Türkiye

Publication Date

November 8, 2021

Submission Date

August 18, 2021

Acceptance Date

October 5, 2021

Published in Issue

Year 2021 Volume: 22 Number: 2

DOI

https://doi.org/10.37880/cumuiibf.984188

IZ

https://izlik.org/JA64AW98SX

Cite

RIS / Bibtex

APA

Atioğlu, E. (2021). Hot Air Balloon Rides in Cappadocia: A Business Model to Stimulate the Economy. Cumhuriyet Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 22(2), 378-393. https://doi.org/10.37880/cumuiibf.984188

Cited By

Evaluation of E-Complaints About Balloon Tours in Cappadocia, Turkey

Journal of Yaşar University

https://doi.org/10.19168/jyasar.1394365

Kapadokya Bölgesi’nde Balon Turizminin Mevcut Durumu ve Bölge Turizmindeki Yerine İlişkin Paydaş Görüşlerinin İncelenmesi

GSI Journals Serie A: Advancements in Tourism Recreation and Sports Sciences

https://doi.org/10.53353/atrss.1451456

Hot Air Balloon Rides in Cappadocia: A Business Model to Stimulate the Economy

Kapadokya'da Sıcak Hava Balonu Uçuşları: Ekonomiyi Canlandıracak Bir İş Modeli

Öz

Anahtar Kelimeler

Hot Air Balloon Rides in Cappadocia: A Business Model to Stimulate the Economy

Abstract

Keywords

References

Details

Primary Language

Subjects

Journal Section

Authors

Publication Date

Submission Date

Acceptance Date

Published in Issue

DOI

IZ

Cite

Cited By

Evaluation of E-Complaints About Balloon Tours in Cappadocia, Turkey

Kapadokya Bölgesi’nde Balon Turizminin Mevcut Durumu ve Bölge Turizmindeki Yerine İlişkin Paydaş Görüşlerinin İncelenmesi