The Role of Tourism Incomes in the Reduction of Foreign Trade Deficit: A Comparative Analysis of Turkey and Bosnia-Herzegovina

The Role of Tourism Incomes in the Reduction of Foreign Trade Deficit: A Comparative Analysis of Turkey and Bosnia-Herzegovina

Hasan , Şenol

The Foreign Trade deficit, one of the most important problems in both developed and developing countries, has been occasionally leading to crises and recessions. Nations benefit from the tourism incomes in the reduction of foreign trade deficit at utmost level. Developing countries such as Turkey and Bosnia-Herzegovina structurally need foreign resources to be able to solve the sustainable development and foreign trade deficit problems. In this context, foreign currency inputs obtained from tourism and regarded as “service industry,” have importance in the reduction of foreign trade deficit of nations. In this sense, tourism industry has a role in both acquiring resources needed and in reducing the foreign trade deficit. This paper aims to present the role and importance of tourism incomes in reduction of foreign trade deficit in Turkey and Bosnia-Herzegovina comparatively. Keywords: Tourism industry, Tourism incomes, Foreign trade deficit, Developing countries, Turkey, Bosnia-Herzegovina.

Conference or Workshop Item
PeerReviewed

2012-05-31

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