Tourism's “Financial Dutch Disease”: Regional evidence on foreign exchange abundance and local household saving preferences
JOURNAL OF MULTIDISCIPLINARY ACADEMIC TOURISM, cilt.11, sa.2, ss.323-337, 2026 (TRDizin)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 11 Sayı: 2
- Basım Tarihi: 2026
- Doi Numarası: 10.31822/jomat.2026-11-2-323
- Dergi Adı: JOURNAL OF MULTIDISCIPLINARY ACADEMIC TOURISM
- Derginin Tarandığı İndeksler: Central & Eastern European Academic Source (CEEAS), Hospitality & Tourism Complete, Hospitality & Tourism Index, TR DİZİN (ULAKBİM)
- Sayfa Sayıları: ss.323-337
- İstanbul Üniversitesi Adresli: Evet
Özet
This study aims to examine the impact of increases in tourism-related foreign exchange inflows on individuals' financial behaviour in Türkiye. While numerous studies have examined the Dutch Disease in the real sector, limited studies have examined its effects on household investment behaviour specifically in the service sector. This phenomenon, referred to as the “Financial Dutch Disease”, is analysed in this study to show the impact of tourism intensity on individuals' demand for foreign exchange deposit accounts (FX deposit accounts) for a sample of 81 provinces in Türkiye for the period 2015-2023. The findings indicate a strong positive relationship between tourism growth and the share of FX deposit accounts. According to the main model, a one-unit increase in the number of foreign tourists per capita increases the FX deposit account share of total deposits in a province by an average of 4.35 percent. Conducted heterogeneity analyses indicate that this effect is more pronounced in financially less developed regions. Dynamic analyses indicate that the effect carries over to the following year but diminishes over time. These results clearly demonstrate that tourism-related foreign exchange abundance has led locals to resort to currency substitution, creating a form of "Financial Dutch Disease." The study expands the Dutch Disease literature to include the financial consequences of tourism as a service sector and offers important implications for policymakers by highlighting the potential impact of tourism on regional financial stability.