FORCE: Focus on Research in Contemporary Economics

Analysis of Turkey's Tourism by Type of Expenditure: The Impact of COVID-19, Recovery Process, and Growth Period

Muammer Bezirgan — 2025-09-02

The COVID-19 pandemic dealt a significant blow to the global tourism sector, leading to substantial losses in tourism incomes across countries. Due to travel restrictions, border closures, quarantine measures, and health concerns, the number of international tourists rapidly decreased. This situation deeply affected countries heavily dependent on tourism incomes. The recovery period, evwhich began in 2021, is still ongoing.

This study aims to examine Turkey's tourism incomes by spending categories, as it ranks among the top 5 countries in the world. Additionally, this study investigates how the global COVID-19 pandemic impacted Turkish tourism incomes and the recovery process that followed. Tourism incomes are analyzed according to 12 different spending categories. The data set used in the study covers the period from 2012 to 2023. The data was obtained from the "Exit Visitors Survey" published by the Turkish Statistical Institute. According to the analysis results, significant decreases in tourism spending categories were observed during and after the pandemic period. However, following the end of the pandemic's effects, the Turkish tourism sector rapidly recovered, breaking records in terms of tourist numbers and tourism incomes.

The Role of Humanitarian Cash and Voucher Assistance (CVA) of Non-Governmental Organizations (NGO) in Driving Financial Inclusion in Nigeria

Omoniyi Ogunrinde — 2025-09-02

This research investigates the impact of humanitarian cash and voucher assistance (CVA) on financial inclusion in Nigeria, a developing country grappling with numerous humanitarian crises. The study highlights the shift from traditional in-kind aid to CVA, emphasizing how this approach aids recipients’ autonomy and dignity. Through a quantitative research approach involving a survey with 13 NGOs operating in Nigeria, the research examines the role of CVA in enhancing economic empowerment and financial inclusion among affected populations. Findings suggest that CVA significantly contributes to financial inclusion by allowing recipients to prioritize their needs, thereby improving their economic and social welfare. The study underscores the importance of NGO involvement in implementing CVA programs effectively. Limitations include a narrow sample scope and the inability to employ mixed-method approaches due to time constraints. Future research should expand the sample size and explore the long-term impacts of CVA on economic empowerment and financial inclusion.

Impact of the Activation of General Escape Clause during 2020-2023 on the Fiscal Position and GDP Growth in the EU

Andraž Konc — 2025-09-03

This article examines the impact of the activation of the general escape clause on the fiscal position and GDP growth within the European Union. It aims to analyse how the general escape clause influenced public finances and economic performance of EU Member States. The research employs a qualitative and quantitative analysis of secondary data, including economic reports, statistical indicators, and professional literature. The study draws on comparative fiscal data and macroeconomic indicators from EU and international institutions to assess the effects of the general escape clause. The findings indicate that the activation of the general escape clause provided Member States with greater fiscal flexibility, which facilitated a faster economic recovery following the Covid-19 shock. However, this fiscal expansion also led to increased public debt levels and raised concerns about long-term fiscal sustainability and discipline. It highlights the trade-off between economic recovery and fiscal discipline, underscoring the need for a balanced reimplementation of fiscal rules that supports growth without compromising debt sustainability. The article contributes to current debates on EU fiscal governance by providing an analysis of the implications of the general escape clause and its role in shaping the future of the fiscal policy in EU. We recommend future studies assess the effectiveness of the reformed rules in promoting economic stability across EU Member States.

Macroeconomic impacts of FDI inflows: An empirical analysis from Nigeria

Ahmed Adekunle — 2025-09-04

This study evaluates macroeconomic impacts of FDI inflows on South Africa (SA) economy. The study employed Johansen cointegration test, block exogeneity test and Vector Error Correction Model (VECM) to evaluate the variables spanning over 1986-2021. It has been demonstrated that there is a unidirectional causal relationship between export and economic growth, an increase in export (EXP) causes a rise in SA's economic growth. Economic growth and REXR were found to be causally related, indicating that higher Real Exchange Rate (REXR) values correspond to higher economic growth. Moreover, there is no correlation between FDI inflows and economic expansion. On the other hand, looking at the non-significant levels between External debt (EXTD) and CGDP indicates that the stock of external debt does not drive growth in SA. The study recommends a standardized export agency should be established to oversee the exportable units, their quality, and the standardization of goods and services, necessitating the implementation of an efficient export policy.